In a "game," strategies are
A. the potential returns the participants may get.
B. the plans made by the participants.
C. the laws regulating the industry.
D. the reactions of firms to the changes in the economy.
Answer: B
You might also like to view...
The market for buying and selling foreign currencies is often referred to as the market for:
A. foreign exchange. B. loanable funds. C. international trade. D. direct foreign investment.
During the short-run period of the production process, a firm will be
a. unable to vary any of its factors of production. b. able to vary only some of its factors of production. c. able to vary all of its factors of production. d. able to vary the size of its plant.
In order for spot checks to be effective, they must be:
A. rarely if ever done. B. partaken twice daily. C. performed at regular intervals. D. random in nature.
Brad ate four bags of chips at the baseball game. The first bag tasted best, but he found that as he ate more chips the amount of extra satisfaction he was receiving was beginning to fall. This would demonstrate
A) the law of total utility maximization. B) the law of zero utility. C) the law of diminishing marginal utility. D) the law of diminishing costs.