One reason that it might be difficult for a player to determine his best strategy is that
A) he might have limited ability to calculate the possible outcomes.
B) he is irrational.
C) there is no pure strategy.
D) there are multiple Nash equilibria.
A
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Which is NOT a necessary condition for price discrimination to exist?
A) The firm must face a downward sloping demand curve. B) The firm must identify buyers with different elasticities of demand. C) The firm must be able to prevent resale of the product or service. D) The firm must establish different prices to reflect marginal cost.
FICA taxes and corporate retained earnings are subtracted from national income when personal income is computed
a. True b. False Indicate whether the statement is true or false
Increasing the number of corporations whose stocks are in your portfolio reduces market risk
a. True b. False Indicate whether the statement is true or false
A competitive firm currently produces and sells 500 units of output. Its total revenue is $6,000; the marginal cost of producing the 500th unit of output is $14.50; and the average total cost of producing the 500th unit of output is $9.50 . Is the firm maximizing its profit, or should it increase or decrease output in order to increase its profit?