The number of the countries of the world classified as a less developed country (LDC) is about:
a. 50.
b. 75.
c. 100.
d. 150.
e. 300.
d
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Displayed below is the payoff matrix of firm A for four different strategies, A1, A2, A3, and A4, and the potential retaliatory responses of firm B (B1, B2, B3, B4).Table 12-1 ? B1 B2 B3 B4 A1 100 50 25 10 A2 10 60 150 200 A3 50 75 200 250 A4 30 50 100 150 If firm A uses the maximin criterion, which strategy will it choose? ?
A. A1 B. A2 C. A3 D. A4
In many areas of the country, electricity customers pay a set per unit price for each of the first X kilowatts and a lower per unit price for any additional kilowatts of electricity consumed in a month
This is an illustration of second-degree price discrimination. Indicate whether the statement is true or false
Consumer surplus measures
A) the extra amount that a consumer must pay to obtain a marginal unit of a good or service. B) the excess demand that consumers have when a price ceiling holds prices below their equilibrium. C) the benefit that consumers receive from a good or service beyond what they pay. D) gain or loss to consumers from price fixing.
In the long run, the producer can change the entire plant size to produce a certain level of the output
a. True b. False Indicate whether the statement is true or false