The game in Scenario 13.10 is
A) variable-sum.
B) constant-sum.
C) cooperative.
D) a Prisoners' Dilemma.
E) a Cournot Production Cross.
B
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The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The marginal cost borne by producers when 100 billion kilowatt hours are produced is
A) 5¢ per kilowatt. B) 10¢ per kilowatt. C) 15¢ per kilowatt. D) 20¢ per kilowatt. E) 0¢ per kilowatt.
Assume that autonomous consumption equals $200 and that the mpc equals 0.8. If disposable income equals $1000, then total consumption equals
A) $80. B) $200. C) $800. D) $1000.
In Alpha the lowest 20 percent of families receive approximately what percentage of income? (See Figure 33.1)
A. 5 percent. B. 20 percent. C. 10 percent. D. 80 percent.
Predatory pricing occurs when a firm
a. exercises its oligopoly power by raising its price through the formation of a cartel. b. exercises its monopoly power by raising its price. c. cuts its prices in order make itself more competitive. d. cuts its prices temporarily in order to drive out any competition.