Refer to Figure 3.1. What is the number of outcomes which represent Nash equilibria in this game?
A) 1
B) 2
C) 3
D) 4
A
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An important reason for the Industrial Revolution to have started in Britain is that:
A) there were high entry barriers in British markets. B) Britain had a patent system. C) entrepreneurship was discouraged in Britain. D) Britain had extractive institutions.
Imagine that encryption and related technologies become so advanced that the knowledge produced by research and development are as excludable as any other good, while technology remains nonrival
In a world in which technology is both nonrival and excludable, do the government policies of government spending on R&D, tax incentives for R&D, and patents continue to make sense?
Which of the following is a series of rules that stops trading on an exchange for a relatively short period of time?
a. program trading b. market limits c. stop orders d. circuit breakers
The price of a new textbook is $60 in one year and $75 two years later, while the price of a used copy of the textbook increased from $25 to $37.50. The relative price of a new textbook
A. increased by 25 percent. B. decreased from 1.4 to 1.25. C. increased from 2.4 to 3. D. decreased from 2.4 to 2.0.