The Cournot Model of Oligopoly assumes that
A) firms decide what quantity to produce.
B) firms make their decisions simultaneously.
C) firms do not cooperate.
D) All of the above.
D
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During a recession, there is a(n) ________ the short-run Phillips curve, while during an expansion there is a(n) ________ the short-run Phillips curve
A) upward movement along; downward movement along B) movement closer to; movement further from C) downward movement along; upward movement along D) leftward shift of; rightward shift of E) rightward shift of; leftward shift of
While in school, Kiki spends 20 hours a week as a computer programmer for Microsoft and studies 30 hours a week
A) Kiki is classified as a full-time worker, working 50 hours a week. B) Kiki is classified as a part-time worker, working 30 hours a week. C) Kiki is classified as a part-time worker, working 20 hours a week. D) Because Kiki is a student, she is not classified as working. E) Because Kiki is a student, she is classified as a full-time worker, working 20 hours a week at a paid job.
Refer to the payoff matrix below. If each cell has a probability of occurrence of 0.25, what are Camp with Us' expected profits?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) $8.50
B) $4.25
C) $5.75
D) $7.25
Suppose the price of gasoline and other petroleum products decline sharply. Which of the following will most likely occur as a result of the lower petroleum prices?
a. an increase in demand for solar heating systems b. an increase in demand for larger, more powerful automobiles c. an increase in demand for home insulation products d. an increase in demand for gasoline