Consider the following game. You roll a six-sided die and each time you roll a 6, you get $30. For all other outcomes you pay $6. The $30 when you "win" and the -$6 when you "lose" are called
A. trade-offs.
B. incentives.
C. expected values.
D. payoffs.
Answer: D
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Considering the information in the table shown, Jack's total utility from consuming bundle D would be:
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.
A. 1,160.
B. 1,300.
C. 950.
D. 2,220.
Compounding refers to the
A. process of earning interest on both the principal and the interest of an investment. B. internal rate of return a firm earns on an investment. C. real interest return after taxes. D. calculation of after tax interest returns.
In a Stackelberg oligopoly
A) the leader moves first, and the follower chooses its price in the second stage of the game.
B) the leader moves first, and the follower chooses its output in the second stage of the game.
C) both firms act simultaneously, but one chooses price and the other output level.
D) there is no Nash equilibrium.
Countries with larger debts in terms of absolute value are worse off than countries with smaller debts.
Answer the following statement true (T) or false (F)