If all information is reflected in current prices, the market is
A) resilient.
B) deep.
C) primary.
D) efficient.
D
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The figure above shows the market for airline tickets. If airline tickets are a normal good, then the recession in 2008 that caused people's incomes to decrease lead to a shift from
A) D0 to D1. B) D1 to D0. C) S0 to S1. D) S1 to S0.
A financial asset is considered ________ if it can be bought or sold in a financial market
A) liquid B) a bond C) a security D) a stock
Consumer surplus increases when the market price of a commodity declines
Indicate whether the statement is true or false
The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
Is this game a prisoner's dilemma?
A. Yes, because if both firms played their dominant strategy, they each would earn a higher payoff than when they both play their dominated strategy. B. Yes, because if both firms played their dominated strategy, they each would earn a higher payoff than when they both play their dominant strategy. C. No, because cheating yields the highest payoff for both firms D. No, because neither firm has a dominant strategy