The relevant market argument was used successfully by
A. Alcoa.
B. DuPont.
C. both Alcoa and DuPont.
D. neither Alcoa nor DuPont.
B. DuPont.
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Libertyville has two optometrists, Dr. Smith and Dr. Jones. Each optometrist can choose to advertise his service or not. The incomes of each optometrist, in thousands of dollars, are given in the payoff matrix above
Which of the following statements CORRECTLY categorizes the Nash equilibrium for the game? A) The game has a Nash equilibrium in which both optometrists advertise. B) The game has a Nash equilibrium in which both optometrists do not advertise. C) The game has a Nash equilibrium in which Dr. Smith advertises and Dr. Jones does not advertise. D) The game has a Nash equilibrium in which Dr. Smith does not advertise and Dr. Jones does advertise.
If a 5 percent change in the price of a good elicited a 5 percent change in the quantity demanded of the good, we would say that over this range of prices the good has a(n)
A) elastic demand. B) inelastic demand. C) perfectly elastic demand. D) unit elasticity of demand.
Discuss the three fundamental economic questions that all nations must address
Commercial banks are required by law to hold reserves. These reserves are specified as percentages of a bank's
A. total assets. B. total liabilities. C. checkable deposit liabilities. D. holdings of government securities.