What would the Nash equilibrium be in this game?
a. Neither of the players would stop
b. Both of the players would stop
c. Player A stops
d. Player B stops
b
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Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, what is the market quantity supplied at a price of $2?
A) 0 B) 2 C) 3 D) 5
If the inflation rate increases,
A) the real interest rate rises. B) real GDP growth increases. C) potential GDP increases. D) the nominal interest rate falls. E) the velocity of circulation increases.
If a firm produces five chairs with marginal costs of $25, $30, $40, $55, and $75, respectively, and sells them for $80 each, what is the firm's total producer surplus?
A) $400 B) $225 C) $175 D) $150 E) $80
The unregulated, single-price monopoly shown in the figure above makes a total economic profit of
A) $24. B) $16. C) $8. D) $4.