Refer to Figure 11-4. Many countries in Africa strongly discouraged and prohibited foreign direct investment in the 1950s and 1960s. By doing so, these countries were essentially preventing a moment from
A) A to E. B) B to A. C) D to B. D) E to B.
D
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The MRP is the additional ___________ obtained by using one more unit of input.
Fill in the blank(s) with the appropriate word(s).
Suppose the production function is given by Q = 2K + L. If w = $4 and r = $4, how many units of K and L will be utilized in the production process?
A. All L and no K. B. All K and no L. C. A combination of K and L not represented above. D. Equal amounts of K and L.
Refer to the normal-form game of advertising shown below.Firm AFirm B??AdvertiseDo Not Advertise?Advertise$0,$0$175,$10?Do Not Advertise$10,$175$125,$125Consider the advertising game in Figure 10-17. Firms A and B know the game will be played for exactly five periods. What is a Nash equilibrium to this game?
A. {do not advertise, do not advertise} provided the interest rate is less than 0.10 percent B. {advertise, advertise} C. {advertise, advertise} provided the interest rate is less than 0.50 percent D. {advertise, do not advertise}
In the late 1980s, the health benefits of oat bran were widely advertised. If the price of oats increased 50%, causing the quantity of oats supplied to increase by 40%, then the price elasticity of supply was
A) 1.25. B) -1.25. C) -0.80. D) 0.80.