If Firm A and Firm B are playing a finitely repeated game and both know when the final period is, cooperation ________ possible due to the ________.
A) is; trigger strategy
B) is not; trigger strategy
C) is; end-period problem
D) is not; end-period problem
D) is not; end-period problem
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The ____ is the government agency with the task of developing and enforcing policies that are aimed at protecting the environment
a. FDA b. DOI c. FEMA d. EPA
Jack has a ticket to see the Foo Fighters for which he paid $30 yesterday. He takes an unpaid day off from work to get ready for the concert. When he arrives at the concert, five different people offer him $70 for his ticket. Jack decides to keep his ticket. At the time he makes this decision, his opportunity cost of seeing the Foo Fighters is:
A. $70 plus his foregone earnings. B. $70. C. $40. D. $30 plus his foregone earnings.
Which of the following examples shows a shortage?
a. At $50 per watch, a company produces 10,000 watches and sells the same amount. b. At $50 per watch, a company produces 10,000 watches and has a demand for 100 more. c. At $50 per watch, a company produces 5,000 watches and sells 4,998. d. At $50 per watch, a company produces 5,000 watches and sells 1,000.
Which of the following is a long-run impact of an increase in the wage?
A. The quantity demanded of labor increases because there are no diminishing returns. B. The quantity demanded of labor increases because the marginal revenue product curve shifts upward due to a higher product price. C. The quantity demanded of labor decreases because firms face a higher degree of diminishing returns. D. The quantity demanded of labor decreases because firms will have an incentive to use more of other inputs instead of labor.