To gain market share
A) a firm needs to be in a competitive market.
B) a firm needs to limit substitutes.
C) a firm needs to produce a commodity.
D) a firm needs to be a substitute for other products
B
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In the ultimatum game, one reason players don't choose the rational offer is
A) that there are too many possible outcomes to reasonably consider. B) they are worse off by taking the offer. C) they prefer to sacrifice to punish "unfair" behavior. D) that it is not a Nash equilibrium.
Children who play in playgrounds with rubber surfaces instead of gravel surfaces tend to
a. Play safer b. Play rougher c. Not change their play patterns d. Not like playing in the playground
Which of the following describes a situation in which a good or service is produced at the lowest possible? cost?
A) marginal efficiency B) productive efficiency C) allocative efficiency D) profit maximization
When the government mandates that firms supply a particular benefit, it is usually the case that
A. the wage will decrease by more than the cost of providing the benefit. B. the wage will decrease by less than the cost of providing the benefit. C. the wage will increase. D. the cost of providing the benefit is less than the worker's value of the benefit. E. employment will increase.