In a simultaneous move game, ________
A) each player has to make his choice after knowing his rival's choice
B) each player has to make his choice without knowing his rival's choice
C) there is always more than one Nash equilibrium
D) there is always more than one dominant strategy equilibrium
B
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A ________ curve shows how many units of a good or service consumers are willing to buy at various prices, and a ________ curve shows how many units of a good or service sellers are willing to offer for sale at various prices
Fill in the blank(s) with correct word
A monopolistic competitor would face a demand curve with a
A) positive slope. B) negative slope. C) constant slope. D) slope equal to 0.
A second-price auction
a. is also called a Vickrey auction b. is where bidders submit increasing bids until all but one remains c. is where the sole remaining bidder wins and pays his winning bid d. all of the above
Which of the following is most likely to result if the Congress passes the living wage law?
a. Cost-push inflation b. Demand-pull inflation c. Deflation d. Recession e. Stagnation