Which of the following is not an example of a noncooperative oligopoly model?
A) The kinked demand curve model.
B) The model of limit pricing.
C) The prisoner's dilemma game.
D) The cartel model.
D
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Answer the following statement(s) true (T) or false (F)
1. If a firms fixed costs increase from $2,000 to $3,000, then its marginal cost is $1,000. 2. If a firm can sell one more unit of its product for $7 and the marginal cost of producing that one more unit is only $5, then it should definitely produce and sell one more unit.
Since the early 1980s, the real exchange rate between U.S. goods and Japanese goods has climbed, relative to the nominal exchange rate (yen/U.S. dollar). What does this imply about economic conditions in the two countries?
What will be an ideal response?
Refer to Table 15.1. The budget deficit for Arugula in 2012 is
A) $135 million. B) $195 million. C) $380 million. D) $600 million.
The Coase theorem suggests that private solutions to an externality problem
a. are effective under all conditions. b. will usually allocate resources efficiently if private parties can bargain without cost. c. are only efficient when there are negative externalities. d. may not be possible because of the distribution of property rights.