In game theory, actions such as cheating that focus solely on short-run gains are referred to as
A) territorial behavior.
B) tit-for-tat strategic behavior.
C) predatory behavior.
D) opportunistic behavior.
D
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As disposable income ________ planned consumption expenditure ________
A) decreases; increases B) increases; decreases C) decreases; remains the same, since it is autonomous expenditure D) increases; increases E) increases; changes only if net taxes also change
If the Slamdunkers can sell 5000 season tickets for $100 and 6000 season tickets only by lowering the price (for all purchasers) to $80, our best estimate of the marginal revenue from sale of the 550th season ticket is
A) $100. B) $90. C) $80. D) -$20.
The existence of economies of scale can create ________
A) a natural monopoly B) a government monopoly C) a legal monopoly D) a market in which many firms make identical products
An example of a good or service that would count in the U.S. GDP would be a bag of coffee made in:
A. Canada by Starbucks. B. Vermont by Green Mountain Coffee Roasters. C. Colombia by Dunkin' Donuts. D. All of these would count in U.S. GDP.