If H represents the number of hours spent on an activity, then which of the following could represent a marginal cost function?
A. 100H - 20H2
B. 100H + 20H2
C. -100H - 20H2
D. -100H + 20H2
B. 100H + 20H2
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A strategy that limits defection in a repeated prisoner's dilemma game is:
A. a tit-for-tat strategy. B. an ultimatum bargaining game. C. a Nash equilibrium. D. a cartel.
Stadiums and arenas built for use by professional sports teams are often paid for by local governments using tax dollars
What kind of goods are these stadiums and arenas, and why would government use tax dollars to pay for them when the professional sports franchises that use them are generally quite successful, financially?
Which statement is true?
A. Most American workers are members of labor unions. B. Virtually no Americans are members of labor unions. C. A rising percentage of workers are members of labor unions. D. A declining percentage of workers are members of labor unions.
Adam Smith's idea of the "invisible hand" says that given a country's resources and its initial distribution of wealth, the use of markets will
A. eliminate problems of hunger and dissatisfaction. B. eliminate inequalities between the rich and the poor. C. make people as economically well off as possible. D. insulate a nation from the effects of political instability.