When all players in a game choose the best strategy they can, given the choices of all other players, it is always a:
A. Nash equilibrium.
B. positive-positive outcome.
C. cooperative equilibrium.
D. negative-negative equilibrium.
A. Nash equilibrium.
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Which of the following types of mergers are of greater concern as being anticompetitive among antitrust regulators?
a. Horizontal mergers b. Vertical mergers c. Conglomerate mergers d. Horizontal, vertical and conglomerate mergers are of equal concern as being anticompetitive
A corporation uses __________ as its Federal Tax ID number.
a. the owner's social security number b. an EIN number c. business operating license number d. none of these
If the elasticity of demand for cigarettes is 0.4, a seller should
A. Decrease price to increase total revenue. B. Reduce price to maximize profits. C. Increase price because the percentage change in quantity demanded will be greater than the price effect. D. Increase price to increase total revenue.
If the Federal Reserve sells $200 of securities through a commercial bank when the reserve requirement is 10 percent, the maximum potential change in the money supply is
A. a $200 decrease. B. a $2,000 increase. C. a $2,000 decrease. D. a $200 increase.