In a collusive agreement between two duopolists in an oligopoly, each firm has an incentive to cheat on the agreement because the firm's price
A) exceeds its marginal cost.
B) exceeds its marginal revenue.
C) is less than its average total cost.
D) None of the above answers is correct.
A
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Consider a game where individuals are asked to contribute to a public good. Then consider the best response function for individual i, with individual i's contribution measured on the vertical axis and "the average contribution by everyone else" on the horizontal. Then as the number of individuals increases, i's best response function shifts in.
Answer the following statement true (T) or false (F)
Suppose that we are at a point on the money demand schedule where (M/P) = 500. At a constant interest rate, the quantity of money demanded increases when real income ________ so that ________
A) rises, the money demand schedule shifts to the right B) rises, the money demand schedule shifts to the left C) rises, we move downward along the money demand schedule D) falls, the money demand schedule shifts to the left E) falls, we move upward along the money demand schedule
There is an inverse relationship between the price of an existing bond and its
A. Current yield. B. Par value. C. Liquidity yield. D. Risk yield.
Macroeconomics is distinguished from microeconomics by its concentration on
A. choices. B. the performance of national economies and ways to improve upon their performance. C. individual markets. D. the level of prices in specific markets.