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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In a battle of the sexes game, each player prefers a different Nash equilibrium
Indicate whether the statement is true or false
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.
Entry barriers mean a true monopoly ______.
a. has many firms b. has only one firm c. welcomes many firms d. requires varied products
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.