Which of the following would not affect an individual's demand?
A. Prices of related goods
B. The individual's preferences
C. The individual's income
D. The costs of inputs
D. The costs of inputs
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Assuming a homogeneous product, the Bertrand duopoly equilibrium price is
A) the same as the Cournot equilibrium price. B) less than the Cournot equilibrium price. C) greater than the Cournot equilibrium price. D) equal to the monopoly price.
Refer to Figure 9.3. If the market is in equilibrium, total producer surplus is
A) $2. B) $3. C) $200. D) $400. E) $600.
Other things the same, the effects of an increase in transfer payments on the government's budget deficit will lead to
a. greater investment. b. a higher interest rate. c. higher public saving. d. All of the above are correct.
Consider Figure 12.3. Choosing a high price is:
A. a dominant strategy for David but not for Becky. B. a dominant strategy for Becky but not for David. C. a dominant strategy for both David and Becky. D. not a dominant strategy for either David or Becky.