Which condition is the Nash equilibrium for this scenario?
a. Each firm charges $9.
b. Each firm charges $10.
c. Firm A charges $10 while Firm B charges $9.
d. Firm B charges $10 while Firm A charges $9.
a. Each firm charges $9.
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The demand curve in the perfectly competitive industry
A. is identical to the firm’s demand curve. B. negatively sloped. C. positively sloped. D. perfectly elastic.
A decrease in the wage rate is represented by a(n): a. upward movement along the labor supply curve. b. downward movement along the labor supply curve. c. rightward shift of the labor supply curve
d. leftward shift of the labor supply curve.
Suppose that initially a market is in equilibrium at a price of $10 and a quantity of 5000 units per day. Several months later, the market is in a new equilibrium at a price of $5 and a quantity of 5000 units per day. What happened in the market?
What will be an ideal response?
Discuss the evidence on whether economic growth is bad for the environment
What will be an ideal response?