Refer to Scenario 6.1. The Nash equilibrium occurs where
A) both Tasha and Gloria work extremely hard.
B) both Tasha and Gloria work somewhat hard.
C) Both A and B represent Nash equilibria.
D) There is not a Nash equilibrium in this scenario.
A
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The Social Security Administration estimates that the Social Security Trust Fund will ________ and that the Medicare Trust Fund will ________
A) become fully funded by 2036; become fully funded by 2024 B) continue to get smaller as the number of retirees increases; start to grow once funds from Obamacare are funneled to the program C) grow slowly as more workers retire; decline slowly as medical costs rise D) run out of funds in about 20 years; run out of funds in about 10 years
The table above shows the PPF of an island community. This community's opportunity cost of producing 1 pound of fish ______
A. is the increase in the quantity of berries gathered as the quantity of fish increases by 1 pound B. increases as the quantity of berries gathered increases C. is 10 pounds of berries if the quantity of fish increases from 2 to 3 pounds D. increases as the quantity of fish caught increases
What are the three limitations on human rationality that behavioral economics emphasizes?
What will be an ideal response?
The barter system requires the double coincidence of wants to be fulfilled
Indicate whether the statement is true or false