The first mover in an extensive-form game should use ________ to win the game
A) forward induction
B) backward induction
C) pure strategies
D) mixed strategies
B
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Total fixed cost is the cost of
A) labor. B) production. C) a firm's fixed factors of production. D) only implicit factors of production. E) only explicit factors of production.
Which of the following is true
a. Increasing output always leads to increase in profits b. Increasing outputs increase profits if price is above marginal cost c. Increasing output increases profits if price is lea than marginal costs d. Increasing output always decreases profits
Suppose total deposits in the First Bank of Commerce are $200,000 and required reserves are $10,000. Based on this information, the required reserve ratio is:
A. 20.0. B. 0.05. C. 0.10. D. 0.20.
Suppose there are two firms maintaining a cartel agreement. If one firm suddenly drops its price, the other firm could interpret this as signaling:
A. underpricing. B. limit pricing. C. cartel pricing. D. cooperative pricing.