Which of the following best describes the basic characteristics of noncooperative oligopoly models?
A) Managers make decisions based on the strategy they think their rivals will pursue.
B) Managers attempt to deliberately mislead their rivals regarding the strategy they will pursue.
C) When making decisions, managers basically ignore the mutual interdependence that exists among rivals.
D) Managers refuse to negotiate with their rivals when it comes to such decisions as what price to charge.
A
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Pasta and pizza are substitutes. If the price of pasta decreases, the demand for pizza will __________.
Fill in the blank(s) with the appropriate word(s).
All of the following are macro failures that justify government intervention except for:
A.) High unemployment. B.) A rising price level. C.) A decline in the production capacity. D.) Inequitable distribution of output.
The slope of a straight line:
A. is constant. B. is negative. C. is zero. D. changes along the curve.
The outside lags related to monetary policy tend to be quite long.
Answer the following statement true (T) or false (F)