Refer to Figure 3.4. Serena's dominant strategy is to play ________ and Austin's dominant strategy is to play ________
A) North; North
B) South; South
C) North; South
D) Neither Serena nor Austin has a dominant strategy.
D
You might also like to view...
For a common resource, the marginal social cost of the resource is ________ the marginal private cost
A) greater than B) equal to C) less than D) not comparable to
How are goods and services produced in the global economy?
A. Developing countries use less human capital but just as much physical capital as advanced economies. B. Emerging economies use more capital-intensive technology than do developing economies. C. Human capital in all economies is similar. D. Advanced economies use less capital than developing economies.
The assumption of diminishing returns in the Heckscher-Ohlin model means that, unlike in the Ricardian model, it is likely that
A) countries will not be fully specialized in one product. B) countries will benefit from free international trade. C) countries will consume outside their production possibility frontier. D) comparative advantage will not determine the direction of trade. E) global production will decrease under trade.
Pure private goods are nonrival in consumption.
A. True B. False C. Uncertain