Economics
A. is concerned with unlimited wants.
B. is concerned with limited resources.
C. is a social science.
D. all of these are correct.
Answer: D
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Advertising by monopolistically competitive firms can do all of the following EXCEPT
A. lower the consumer's purchase price. B. help differentiate a firm's product. C. result in increased profits for the advertising firm. D. act as a signal to consumers that the company is serious about staying in business.
A subgame perfect Nash equilibrium
A) can be solved by backward induction. B) is a set of strategies that are a Nash equilibrium in every subgame. C) is a stronger form of Nash equilibrium. D) All of the above are correct.
In a battle of the sexes game, each player prefers a different Nash equilibrium
Indicate whether the statement is true or false
Entry barriers mean a true monopoly ______.
a. has many firms b. has only one firm c. welcomes many firms d. requires varied products