Which of the following statements is (are) true of the prisoners' dilemma? (i) Rational self-interest leads neither party to confess. (ii) Cooperation between the prisoners is difficult to maintain. (iii) Cooperation between the prisoners is individually rational
a. (ii) only
b. (ii) and (iii)
c. (i) and (iii)
d. (i), (ii), and (iii)
a
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A decrease in the price level
A) shifts the AD curve to the right.
B) shifts the AD curve to the left.
C) causes an upward movement along the existing AD curve.
D) causes a downward movement along the existing AD curve.
E) none of the above
What type of relationship does the law of demand demonstrate?
A. inverse B. direct C. dynamic D. equilibrium
A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. The monopoly's maximum profit is
A) 220. B) 370. C) 420. D) 510.
The 1960s "war on poverty" is generally credited with
A. increasing the poverty rate during the decade. B. none of the drop in the poverty rate during the decade. C. the entirety of the drop in the poverty rate during the decade. D. only a part of the drop in the poverty rate during the decade.