Refer to Figure 8.1. The dominant strategy for the players would be for Charla to play ________ and for Mirna to play ________
A) Install; Install
B) Install; Don't Install
C) Don't Install; Install
D) Don't Install; Don't Install
D
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In the neoclassical growth model, if two countries are exactly the same but one has a lower population growth, we would expect that country to have
a. higher output, a higher capital-to-labor ratio, and higher per capita output growth in the steady state. b. the same output and capital-to-labor ratio, but higher per capita output growth in the steady state. c. higher output, a higher capital-to-labor ratio, and the same per capita output growth in the steady state. d. higher output, the same capital-to-labor ratio, and the same per capita output growth in the steady state.
Assume a firm closes down in the short run and produces no output. Under these conditions:
A. TVC is positive, but TFC and TC are zero. B. TFC is positive, but TVC and TC are zero. C. TFC and TC are positive, but TVC is zero. D. TFC, TVC, and TC will all be positive.
Which of the following is most likely to be sold in an oligopoly market?
A. cotton B. electricity supply in a small town C. pizza D. wireless service with a few suppliers
The following table shows four firms, the amount each pollutes, the marginal cost for each firm to clean up pollution, and the total cost to each firm of eliminating all pollution.FirmTotal Discharge (in tons)Marginal Cost of Cleanup(per ton)Total Cost of CleanupA60$5.00$300B70$8.00$560C80$7.50$600D90$4.00$360The total discharge of these four companies is 300 tons. Assume there is no one else who pollutes. If the government establishes a regulation requiring each company to reduce pollution by 50 percent, what will be spent on reducing pollution?
A. $1,050 B. $910 C. $660 D. $1,710