If Nike and Adidas are faced with the game in the figure shown, we can predict:
A. an outcome that is good for society and less than ideal for the companies.
B. an outcome that is less than ideal for society, but optimal for the companies.
C. that both will follow their dominant strategy and society will lose.
D. None of these is likely to happen.
A. an outcome that is good for society and less than ideal for the companies.
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Which of the following is consistent with the classical theory of growth?
A) permanent increases in real wages B) permanent growth in productivity C) rapid population growth in poor countries D) permanent increases in living standards
In the case of a linear demand curve, average revenue is equal to price, while (with the exception of Q = 1 ) marginal revenue is less than price
Indicate whether the statement is true or false
An inferior good is one in which
a. the average consumer chooses not to consume.
b. the good is not equally valued by all consumers.
c. an increase in income increases consumption of the good.
d. an increase in income decreases consumption of the good.
Tight monetary policy raises the real interest rate, which ________ the demand for dollars, ________ the supply of dollars, and ________ the equilibrium value of the dollar.
A. decreases; decreases; decreases B. increases; increases; increases C. decreases; increases; increases D. increases; decreases; increases