Playing the game in Scenario 13.13 sequentially would
A) not change the equilibrium.
B) change the equilibrium to (R1,C1 ).
C) change the equilibrium to (R2,C1 ) if R moved first.
D) change the equilibrium to (R2,C1 ) if C moved first.
E) change the equilibrium to (R2,C2 ).
C
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The expenses you encounter when you buy in one market and sell in a distant market are known as
A) transactions costs. B) sunk costs. C) fixed costs. D) production costs.
On a money demand diagram with the interest rate on the vertical axis, the real money balance demand schedule would be a vertical line under the assumption that
A) a lower interest rate raises the demand for real money. B) a lower interest rate lowers the demand for real money balances. C) the interest rate has no effect on the demand for real money balances. D) balances. E) a higher real GDP raises the demand for real money balances.
A firm that is a "pure monopoly" is
a. a seller of a highly advertised and differentiated product in a market with low barriers to entry in the long run. b. the only seller of a good for which there are no good substitutes in a market with high barriers to entry. c. the only buyer of a unique raw material. d. the producer of a product subsidized by the government.
Kiana’s country begins offering free college education to its citizens. This will most likely impact its production possibilities curve by ______.
a. causing it to spike b. shifting it outward c. shifting it inward d. causing it to trend downward