A surprising outcome of the Rock-Paper-Scissors game is that
A) it is a clear example of a first mover advantage.
B) there is no pure-strategy Nash equilibrium.
C) it is best not to play the game.
D) it is a good way to determine who goes first in a sequential move game.
B
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The Haig-Simons definition of income includes
A. employer pension contributions and insurance purchases. B. transfer payments. C. income in-kind. D. all of these answer options are correct.
Which of the following is a shortcoming of concentration ratios?
A. The measurement generally does not include foreign imports. B. The measurement is based on all firms of the industry, no matter how small. C. The measurement is only based on the top ten firms in an industry. D. The measurement includes foreign imports.
If an individual demands a particular good, it means that he or she:
A. Is willing and able to purchase the good at some price. B. Has a strong desire for the good. C. Must need the good. D. Prefers the good over all other choices.
Suppose that Polaroid instant cameras had a guarantee that would be valid only if the camera was used with Polaroid film. This would then be an example of:
A. a tie-in sale. B. monopoly pricing. C. price discrimination. D. predatory pricing.