Playing the game in Scenario 13.12 sequentially would
A) not change the equilibrium.
B) change the equilibrium to (R1,C1 ).
C) change the equilibrium to (R2,C1 ) if R moved first.
D) change the equilibrium to (R2,C1 ) if C moved first.
E) change the equilibrium to (R2,C2 ).
A
You might also like to view...
Forcing a natural monopolist to produce where price, or marginal benefits, equals cost results in an ________ ________ to the monopolist
a. opportunity cost b. economic loss c. economic profit d. normal profit
Refer to Scenario 14-2. As a result of Kristy's deposit, Bank A's excess reserves increase by
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
Refer to Figure 9-5. The tariff revenue collected by the government equals
A) $10 million. B) $15 million. C) $19.875 million. D) $35 million.
The monopolistic competitive firm in short-run equilibrium may experience economic profits that are
A) always zero. B) greater than, equal to, or less than zero. C) always positive. D) always negative.