Any rule that is used to make a choice is

A) positive-sum game.
B) zero-sum game.
C) strategy.
D) negative-sum game.


C

Economics

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If an upstream monopoly and a downstream monopoly vertically integrate into a profit-maximizing monopoly, then the total amount of deadweight loss in the industry

A) will increase. B) will decrease. C) will remain unchanged. D) cannot be determined.

Economics

Assume a market that has an equilibrium price of $5. If the market price is set at $9, producer surplus:

A. rises for some producers because of the increased price. B. decreases for some producers because of fewer transactions taking place. C. Both A and B are true. D. Neither of these statements is true.

Economics

Which of the following is true of small changes in productivity growth rates? a. Small changes in productivity growth rates decrease the productivity of workers in the short run compounding the problem. b. The effects of small changes in productivity growth rates are compounded over the years leading to large cumulative effects. c. Small increases in productivity growth rates cause output to

fall. d. The effects of small changes in productivity growth rates are negligible. e. Small decreases in productivity growth rates cause output to increase.

Economics

If the demand curve for a good shifts leftward,

A) quantity demanded is less at each price. B) quantity demanded remains constant at each price. C) quantity demanded is greater at each price. D) demand is greater at each price.

Economics