The above figure shows the reaction functions for two pizza shops in a small isolated town. The Cournot equilibrium is at point
A) a.
B) b.
C) c.
D) d.
B
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The portion of a country's overall assets that is directly related to the environment, such as forests and soil quality, is known as
(a) environmental capital. (b) debt for nature swaps. (c) protected areas. (d) common property assets.
Total profit = Total revenue ? Total cost (including opportunity cost). Total profit defined in this way is called
A. accounting profit. B. economic profit. C. absolute profit. D. relative profit.
The above figure shows the payoff matrix facing an incumbent firm and a potential entrant. Assuming a fixed cost of entry, the outcome will be that the incumbent
A) deters entry. B) chooses the Stackelberg leader level of output but the potential entrant does not enter anyway. C) chooses the Stackelberg leader level of output and the potential entrant enters. D) deters entry and earns zero profit.
The "core" inflation rate is typically defined as the change in consumer prices for all goods included in the CPI basket except energy and food products
Suppose the overall inflation rate based on the CPI was 4 percent for the past year, and energy and food prices did not change during the year. Is the core inflation rate for the past year higher or lower than 4 percent? A) Higher B) Lower C) They are the same D) We do not have enough information to answer this question