Suppose a market has the demand function Qd=20-0.5P. At which of the following prices will total revenue be maximized?
a. $10
b. $20
c. $30
d. $40
b
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The prisoners' dilemma is an example of a(n) ________ game
A) simultaneous move B) extensive-form C) zero-sum D) mixed strategy
Entry barriers are most significant in
A) pure competition. B) monopolistic competition. C) oligopoly. D) pure monopoly.
Which of the following transactions would be recorded as a credit in the U.S. current account?
a. A Japanese bank's purchase of IBM stock. b. A Japanese consumer's purchase of an Apple computer. c. An American tourist's payment to a Japanese hotel. d. An American consumer's purchase of a Toshiba VCR.
Gross Domestic Product is a monetary measure of
a. total consumption in the economy. b. the total value of all final goods and services. c. total industrial output. d. the total value of all foreign sales and purchases.