A payoff matrix shows:
A. the payoff to being a perfectly competitive firm.
B. the demand curve facing a firm when there are only two firms.
C. the payoff to being a monopolist.
D. the payoffs for each possible combination of strategies.
Answer: D
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Which of the following statements is not compatible with the opportunity cost theory?
A) Demand plays a role in the determination of costs. B) Labor costs depend upon the demand for labor. C) Relative prices reflect the relative amount of human labor required to produce goods. D) Supply as well as demand depends upon subjective preferences.
In the above figure, of the quantities listed below, for which is the total deadweight loss the largest?
A) 0 units B) 10 units C) 20 units D) 30 units
The crowding out of private spending by government spending will be greater the
A) less sensitive consumption, investment, and net exports are to changes in the price level. B) less sensitive consumption, investment, and net exports are to changes in interest rates. C) more sensitive consumption, investment, and net exports are to changes in interest rates. D) more sensitive consumption, investment, and net exports are to changes in the price level.
If the interest rate is 10% then the net present value of the investment is
a. $5,000 b. - $9,091 c. -$15,290 d. -$21,901