The more elastic the demand curve, _____
a. the smaller the proportion of a tax paid by the suppliers
b. the smaller the proportion of a tax paid by the demanders
c. the more elastic the supply curve
d. the more the tax can be shifted to demanders
b
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mixed-strategy Nash equilibrium is the outcome in which a player's ________ strategy is the best strategy for that player, taking as given the other player's ________ strategy.
A) mixed; mixed B) pure; pure C) pure; mixed D) mixed; pure
The market for medical care relies primarily on:
a. For profit providers. b. Not for profit providers. c. Co-ops. d. Hospitals. e. The substitution effect.
If the Fed wishes to reduce the money supply, it can sell U.S. government securities to member banks
a. True b. False Indicate whether the statement is true or false
The endowment effect is used to describe the mistake a consumer makes when he accounts for the monetary costs of his decisions but ignores the nonmonetary opportunity costs.
a. true b. false