According to the figure shown, Nike:
A. has a dominant strategy to charge a high price.
B. does not have a dominant strategy.
C. will reach an optimum outcome by acting in its own self-interest.
D. has a dominant strategy to charge a low price.
D. has a dominant strategy to charge a low price.
You might also like to view...
Factors of production are the
A) goods and services produced by the economy. B) productive resources used to produce goods and services. C) goods that are bought by individuals and used to provide personal enjoyment. D) goods that are bought by businesses to produce productive resources. E) productive resources used by government to increase the productivity of consumption.
Comparing the AS-AD model and the Phillips curve, we see that
A) they both are graphed as a relationship between the rate of inflation and the unemployment rate. B) the AS-AD model uses the price level and the Phillips curve uses the rate of inflation. C) the AS-AD model is graphed as a relationship between the inflation rate and the rate of real GDP. D) the AS-AD model uses the price level and the Phillips curve uses real GDP. E) the Phillips curve is graphed as a relationship between the price level and the unemployment rate.
Which of the following is a measure of general inflation that is NOT based on a fixed market basket of goods and services?
A. personal consumption expenditure index B. consumer price index C. consumer price index excluding prices of food and energy D. producer price index
If a monopolistically competitive firm breaks even, the firm
A) is earning an accounting profit and will have to pay taxes on that profit. B) is earning zero accounting and zero economic profit. C) should advertise its product to stimulate demand. D) should expand production.