It has been argued that state-subsidized ____ programs have benefited the middle and upper-income quintiles more than the poor
a. food stamp
b. housing subsidy
c. higher education
d. Medicaid
c
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Refer to Scenario 13.9. The equilibrium of this game, if played only once, is that
A) both firms pollute. B) only Lago pollutes. C) only Nessie pollutes. D) neither firm pollutes. E) the firms choose a mixed strategy.
A group of firms that act in unison to maximize collective profits is called a
a. monopolistically competitive industry. b. monopoly. c. cartel. d. Nash equilibrium market.
Judgmental and decision heuristics are:
A. rules of thumb that reduce computation costs. B. a way of calculating computation costs. C. derived from the rational choice model but imply higher computation costs. D. used to test the rational choice model when computation costs are small.
All sellers may be tempted to raise the price of what they sell, but a negative unintended effect of raising the price could be __________ in units sold large enough to __________ the seller's total revenue earned
A) an increase; raise B) an increase; lower C) a decrease; raise D) a decrease; lower