Refer to the payoff matrix below. Which of the following is true for Happy Campers?
A) They have one dominated strategy.
B) They have three dominated strategies.
C) They have two dominated strategies.
D) They have zero dominated strategies.
A) They have one dominated strategy.
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Production indifference curves generally have a positive slope.
Answer the following statement true (T) or false (F)
Answer the following questions true (T) or false (F)
1. Physical capital refers to stocks and bonds. 2. Counting part-time workers who are looking for full-time work as employed overstates the degree of joblessness in the economy. 3. In the United States, the typical person who has lost his or her job finds another one in a few months except during severe recessions.
If the price elasticity of supply for a good becomes more elastic over time
A. quantity supplied becomes more sensitive to price. B. quantity demanded is not sensitive to price. C. quantity supplied becomes less sensitive to price. D. quantity demanded is very sensitive to price.
What is normally the ultimate cause of hyperinflation?
What will be an ideal response?