Game theory between two firms with two outcomes tends to emphasize
A. purely competitive outcomes.
B. organizational architecture.
C. intrafirm decision making.
D. noncooperative games.
Answer: D
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If two goods, J and K, are complements, then which of the following statements is FALSE?
A) They are consumed together. B) An increase in the price of J causes the demand for K to rise. C) When the quantity demanded of J increases, the demand for K increases. D) A decrease in the price of K causes an increase in the demand for J.
In this situation, the deadweight loss from monopoly is:
a. 0.40. b. 0.16. c. 0.12. d. 0.08.
Which of the following federal farm programs was successful in reducing agricultural surpluses?
a. The Agricultural Act of 1948 b. The Emergency Act of 1978 c. The Emergency Feed Grain Bill of 1961 d. The Soil Bank Act of 1956
Perfect price discrimination:
A. requires each customer to pay exactly his or her willingness to pay. B. maximizes consumer surplus. C. is not efficient. D. minimizes producer surplus.