A matrix is a network of unrelated companies trying to jointly capture economies of scale
Indicate whether the statement is true or false
False
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Suppose a babysitter demands payment in full before the parents go out for the night. Using the economic way of thinking, the babysitter is clearly
A) exploiting the parents. B) exploiting the children. C) selling short. D) in it only for the money.
If a market is subject to a positive externality,
A) the demand curve reflecting social benefit will be to the right of the demand curve representing private benefit. B) there is only one demand curve. C) the demand curve reflecting social benefit will be to the left of the demand curve representing private benefit. D) private benefit will exceed social benefit.
The shape of the long-run industry supply curve in a perfectly competitive industry is largely determined by: a. the shape of the short-run industry supply curve. b. the price of inputs as the industry expands
c. the price elasticity of market demand. d. the shape of the average fixed cost curve.
Games with a noncooperative equilibrium:
A. always result in a negative-negative outcome. B. can result in either a positive-positive or negative-negative outcome. C. always result in a positive-negative outcome (zero-sum). D. always result in a positive-positive outcome.