People do not usually behave in a noncooperative fashion even when it is in their immediate interest to do so because
A) they realize such behavior is immoral.
B) they know there can be 2 winners.
C) they know they will have repeated dealings with the other people.
D) they understand the difficulties with game theory.
C
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According to the Application
A) stable marriages account for no more happiness than marriages ending in divorce. B) reported levels of happiness in the United States have increased over the past 30 years. C) money does appear to buy happiness, ceteris paribus. D) retired people report higher levels of happiness than people below the age of 40.
The informal sector can be a significant drag on the economies of developing countries because the firms in the informal sector
A) employ illegal immigrants from other countries. B) produce goods and services no one wants. C) sell their goods and services to citizens in other countries. D) do not pay taxes to the government.
If the marginal propensity to save (MPS) = 0.1, then
A) the MPC = 0.9. B) the APS = 0.1. C) the APC = 0.9. D) consumption equals $1,800 when income equals $2,000.
New Phone ShorTech, is a smaller company that makes of knockoff consumer electronic devices including its Quadrant mobile phone. Sales had been doing okay for a number of months before ShorTech launched a massive advertising campaign in which it shows
that its phone can do just about everything the industry leader phone can do. What change in pricing would you suggest for the Quadrant phone concurrent with the campaign?