Decision makers in oligopolistic firms must devise a strategy. One that yields the highest benefit, regardless of what the other players do is a
A) pricing strategy.
B) coherent strategy.
C) dominant strategy.
D) revenue strategy.
C
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As a person increases his or her caloric intake, the person's weight increases, ceteris paribus. The relationship between the person's caloric intake and the person's weight is an example of
A) unrelated variables. B) a positive relationshi
The market clearing price for gasoline is $1.50, but the maximum price that can be charged is $1.29. This is an example of
a) a price control that will lead to a surplus of gasoline on the market. b) a price floor that will lead to a shortage of gasoline on the market. c) a price ceiling that will lead to a shortage of gasoline on the market. d) a price floor that will lead to a surplus of gasoline on the market.
The thrift institutions:
a. were nonprofit banking institutions. b. were owned by the Federal Reserve. c. historically offered only savings accounts, not checking accounts. d. controlled the U.S. monetary policy prior to the establishment of the Federal Reserve. e. were monitored by the Federal Deposit Insurance Corporation.
In a decreasing-cost industry, the long-run industry supply curve is
a. horizontal b. vertical c. upward sloping d. downward sloping e. the sum of the individual firm's marginal cost curves