If Happy Feet chooses to Ad and Best Nails then chooses to No Ad, Happy Feet earns ________ million in net profit and Best Nails earns ________ million.
Happy Feet wants to prevent Best Nails from entering the nail salon market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Happy Feet and Best Nails have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) $4; $1
B) $5; $1
C) $2; $3
D) $1; $4
B) $5; $1
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Private profits provided colonial producers with incentive to direct the use of their regional resources in those fashions that produced the highest yield in world markets
Indicate whether the statement is true or false
All Giffen goods are
a. inferior goods, and all inferior goods are Giffen goods. b. inferior goods, but not all inferior goods are Giffen goods. c. normal goods, but not all normal goods are Giffen goods. d. normal goods, and all normal goods are Giffen goods.
When a commercial bank borrows from the Fed,
A) the reserves of the bank fall. B) the bank can make more loans. C) it must be because the bank is not meeting its reserve requirements. D) the money supply falls.
When conducting an open-market purchase, the Fed
a. buys government bonds, and in so doing increases the money supply. b. buys government bonds, and in so doing decreases the money supply. c. sells government bonds, and in so doing increases the money supply. d. sells government bonds, and in so doing decreases the money supply.