An oligopolist cares very much about what other firms in her industry are doing.
Answer the following statement true (T) or false (F)
True
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AGI is
A. found by subtracting certain business expenses from H-S income. B. found by subtracting exemptions from taxable income. C. not used in modern tax policy. D. none of these answer options are correct.
When there is an Equilibrium (or a Nash Equilibrium), we expect that:
a. once the firms get there, no one will change their strategy. b. firms will tend to select a randomized strategy. c. neither firm will care what it does. d. this is always a dominated strategy.
The free-rider problem is
A. the incentive that people have to avoid paying for a public good. B. that people cannot be forced to accept public goods. C. the incentive that people have once they are receiving welfare to keep getting welfare. D. the use of private goods in one state by residents of another state.
In general, if a consumer good is produced domestically and consumed domestically, a decrease in its price will have which of the following effects?
a. The consumer price index will decrease relatively more than will the GDP deflator. b. The consumer price index and the GDP deflator will decrease by the same amount. c. The consumer price index will decrease relatively less than will the GDP deflator. d. One cannot generalize about the decrease in the consumer price index relative to the decrease in the GDP deflator.