The marginal revenue that would be derived from the production of the fifth unit is
A. $24.
B. $21.
C. $12.
D. $6.
D. $6.
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In the game in Scenario 13.3, the equilibrium outcome:
A) is for Moto to offer a CD changer and Zport to offer low-profile tires. B) is for Moto to offer a CD changer and Zport to offer a sun roof. C) is for Moto to offer free maintenance and Zport to offer low-profile tires. D) is for Moto to offer free maintenance and Zport to offer a sunroof. E) does not exist in pure strategies.
In the long run in perfect competition, no firm can earn a normal profit
a. True b. False
Which of the following is a game theory strategy for oligopolists to avoid a low-price outcome?
a. Tit-for-tat b. Win-win c. Last in-first out d. Second best
Which of the following is correct? a. "Theory" and "hypothesis" are interchangeable terms meaning the same thing. b. A hypothesis may result from a tested and confirmed theory
c. A theory may result from a tested and confirmed hypothesis. d. A hypothesis is a theory whose formulation relies on mathematics.