Games with a noncooperative equilibrium:
A. always result in a negative-negative outcome.
B. always result in a positive-positive outcome.
C. can result in either a positive-positive or negative-negative outcome.
D. always result in a positive-negative outcome (zero-sum).
C. can result in either a positive-positive or negative-negative outcome.
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In the famous allegorical work The Wonderful Wizard of Oz, the symbol for William Jennings Bryant (one-time leader of the free-silver movement) was the
A) Yellow brick road. B) Scarecrow. C) Lion. D) dog named Toto.
Suppose a multi-product monopolist sells two complementary goods, A and B. Annual market demand for good A is QdA = 600 - 25PA - 12PB. Each time a consumer buys A, his demand for B is QdB = 4 - 0.4PB. The marginal cost of good A is a constant $4, and the marginal cost of good B is a constant $0.50. Suppose the price of good B is $5. If the monopolist considers the effect of additional sales of A on the sales of good B, how many units of good A will it produce?
A. 415 B. 332.5 C. 220 D. 207.5
What are the characteristics of the perfectly competitive market?
What will be an ideal response?
In the circular flow diagram, firms ________ labor and households ________ goods and services.
A. supply; demand B. supply; supply C. demand; supply D. demand; demand