In the "Prisoners' Dilemma" game:
a. both players have a dominant strategy not to confess.
b. only one player has a dominant strategy to confess.
c. both players have a dominant strategy to confess
d. neither player has a dominant strategy.
c
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Refer to Table 11.1. What is the equilibrium level of output, y*?
A) 1,775 B) 2,375 C) 7,100 D) 9,500
Most towns were initially established at locations with
(a) an excellent harbor and river stretching into the hinterland. (b) an excellent harbor and flat land so roads could be easily built into the hinterlands. (c) in mountainous areas which provided better protection against Indians. (d) extensive forests to provide fuel and lumber.
A very high Gini coefficient implies a very wealthy country
Indicate whether the statement is true or false
Over the price range from $180 to $120 in Figure 20.1, ceteris paribus,
A. Demand is increasing. B. Total revenue is maximized. C. Utility is maximized. D. Demand is elastic.