As the number of firms in an oligopoly becomes very large, the price effect disappears
a. True
b. False
Indicate whether the statement is true or false
True
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In a Bayesian incomplete information game, a "belief" is represented as the probability you place on your opponent playing one strategy versus another.
Answer the following statement true (T) or false (F)
If official U.S. poverty statistics included in-kind transfer payments the:
a. poverty rate would be close to zero. b. poverty rate would be lower. c. government deficit would be lower. d. top 10 percent of those in the income distribution would be wealthier.
For banks, the central bank acting as a lender of last resort helps to reinforce the effect of deposit insurance and to reassure bank customers that they will not ___________ their money.
a. access b. spend c. find d. lose
Technological improvements shift the average total cost curve and the marginal cost curve downward.
Answer the following statement true (T) or false (F)