The outcome of the Stackelberg model is
A) a Nash equilibrium.
B) the same as the Cournot outcome.
C) that the follower earns zero profit.
D) that the follower cannot be on its best-response curve.
A
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In Table 3-2, from combination C, the opportunity cost of 2 more units of cotton would be
A. 4 units of corn. B. 8 units of corn. C. 14 units of corn. D. 16 units of corn.
Which of the following is an example of a worker experiencing cyclical unemployment?
A) an assembly line worker who loses his job because of automation B) a worker who quits his job because he does not get along with his boss C) a worker who changes jobs to move closer her family D) a lifeguard who was hired during the summer season is laid off after summer is over E) a freightliner employee that got laid off because of the recession of 2007-2009
Expenditures for attending college can be viewed as an investment in human capital
a. True b. False Indicate whether the statement is true or false
Suppose that a monopolistically competitive market is at the long-run equilibrium. Based on this information, which of the following conclusions is NOT true?
A. Deadweight loss is zero. B. Firms' profits are zero. C. P = ATC > minimum of ATC. D. P > MC.