Figure 12.8 depicts an advertising game between two stores. "Advertising" is:
A. a dominant strategy for Store A but not for Store B.
B. a dominant strategy for Store B but not for Store A.
C. a dominant strategy for both stores.
D. a dominant strategy for neither store.
Answer: C
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Which of the following is not an assumption of the medium voter model?
a. Voters can place all election alternatives along a one-dimensional continuum. b. Voters always vote their true preference. c. Voters prefer alternative closer to their preferred outcome. d. Voters engage in preference falsification.
Which of the following is not an advantage to congestion charges for motorists who wish to drive on busy streets?
a. reduced travel time during peak hours b. reduced need for public transportation c. improved environmental quality d. improved valuation of a common resource
A collective-action problem is a situation in which:
A. a group of people stand to gain from an action that is not rational for any of the members to undertake individually. B. people are reluctant to voluntarily pay for goods and services because they believe their individual contribution will not make a difference. C. people are often reluctant to voluntarily pay for goods and services that provide benefits for everyone, even for those who don't pay. D. a small group of individuals gains power that sways the decisions of society to their personal gain at the expense of the larger society.
Which theory does NOT support unrestricted free trade between countries
What will be an ideal response?