Refer to the payoff matrix below. In reference to the Nash equilibrium/equilibria in this game, which of the following is true?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) There is one Nash equilibrium in this game.
B) There are two Nash equilibria in this game.
C) There are no Nash equilibria in this game.
D) There are three Nash equilibria in this game.
B) There are two Nash equilibria in this game.
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A bond will pay $10,000 to its owner in 5 years. If the relevant annual interest rate is 5%, what is the bond worth today (rounded to the nearest 100)?
A. $9,500 B. $7,800 C. $6,600 D. $1,900 E. None of the above.
In reading the stock market quotes in the newspaper, the column with the heading "Ticker" gives the
A. number of shares of the stock traded that day. B. the full name of the company whose stock is being studied. C. stock symbol for the company. D. highest price the stock has sold for in the past year.
Which of the following would lead you to predict an upward shift in the consumption function?
a. a decrease in the value of real wealth b. a decrease in disposable income c. an increase in the value of real wealth d. an increase in the price level
The average variable cost curve intersects the marginal cost curve from below
a. True b. False Indicate whether the statement is true or false