Fixed costs remain the same regardless of the level of production.
Answer the following statement true (T) or false (F)
True
Fixed costs are costs that do not change in the time under consideration.
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In the prisoner's dilemma game, each player's dominant strategy leaves her with a larger payoff than she could receive by cooperating with the other player; however, the "prisoner's dilemma" is that as a result of noncooperation she cannot chose
dominant strategy. Indicate whether the statement is true or false
Which of the following statements about a monopolist is FALSE?
A. A pure monopolist is not the same as a perfect competitor. B. A pure monopolist is the sole supplier of one product, good, or service. C. The monopolist faces a demand curve for the entire market for that good. D. The monopolist faces the industry demand curve, which is upward sloping.
An increase in the wage rate of diamond cutters will increase the supply of cut diamonds.
Answer the following statement true (T) or false (F)
For an economy to experience both economic growth and inflation at the same time
A. the aggregate demand curve must shift to the left. B. the aggregate supply curve must shift to the right. C. the aggregate supply curve must shift to the left. D. the aggregate demand curve must shift to the right.