Which of the following is LEAST likely characterized by mixed strategies?
A) the choice of whether to go to war or not
B) the choice of which pitch to throw in baseball
C) the choice of which play to run in football
D) the choice of where to kick a soccer penalty shot
A
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In the above figure, a rent ceiling of $300 per month would
A) not affect the equilibrium quantity. B) result in a surplus of 7000 units. C) result in a shortage of 7000 units. D) result in a shortage of 2000 units.
Refer to the above figure. Profits for this firm will be maximized at
A) point B. B) point C. C) a quantity greater than point C. D) a quantity between points B and C.
Assume the graph shown represents the market for pizzas sold in an hour. If the original equilibrium was D and S1. Which of the following is true when S1 shifted to S2?
A. Equilibrium price decreased by $5.
B. Equilibrium quantity increased by 20.
C. Equilibrium price increased by $5.
D. Equilibrium quantity increased by 30.
Scarcity is a problem that
a. exists only in the poorer countries of the world b. would disappear if resources were less limited c. can be solved by rapid advances in technology d. exists in every economy e. the rich have solved