If Starbucks and Dunkin Donuts are faced with the game in the figure shown, we can see that:
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.
A. Starbucks has a dominant strategy, but Dunkin Donuts does not.
B. Dunkin Donuts has a dominant strategy, but Starbucks does not.
C. neither company has a dominant strategy.
D. both companies have a dominant strategy.
C. neither company has a dominant strategy.
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The discounted value of a future payment is also referred to as:
A) implicit value. B) explicit value. C) present value. D) temporal value.
Refer to Table 19-29. Based on the table above, what is national income for this economy?
A) $4,700 billion B) $4,000 billion C) $3,150 billion D) $2,450 billion
Oil found in Alaska is an example of
A) physical capital. B) land or natural resource. C) human capital. D) labor.
Which of the following industries would be considered to have a labor intensive production process?
A. Printing a novel B. Farming in a poor country C. Building a road. D. Driving a truck.