The production decision is a long-run supply decision.
Answer the following statement true (T) or false (F)
False
A firm's production decision is the selection of the short-run rate of output that maximizes profits.
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In the prisoner's dilemma game, each player's dominant strategy leaves her with a larger payoff than she could receive by cooperating with the other player; however, the "prisoner's dilemma" is that as a result of noncooperation she cannot chose
dominant strategy. Indicate whether the statement is true or false
Suppose there are 11 buyers and 11 sellers, each willing to buy or sell one unit of a good, with values {$14, $13, $12, $11, $10, $9, $8, $7, $6, $5, $4,}. Assume no transaction costs and a competitive market. At the optimal bid-ask spread, how many transactions would the market maker undertake in this market
a. two transacttions b. three transactions c. four transactions d. five transactions
Which of the following represents the ratio of coupon payments to the price of a bond?
A) the interest rate B) the discount rate C) the coupon rate D) the risk premium E) the current yield
When a perfectly competitive firm weighs price and marginal cost and no externalities exist, it is weighing the full benefits to ________ of additional production against the full costs to ________ of that production.
A. government; government B. society; society C. sellers; buyers D. buyers; sellers