Refer to the payoff matrix above. Which of the following is true for Campers R Us?
A) They have two dominated strategies.
B) They have zero dominated strategies.
C) They have three dominated strategies.
D) They have one dominated strategy.
D) They have one dominated strategy.
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Consider a society facing the production possibilities curves in the figure shown. What is the most likely cause of a society moving from PPF1 to PPF2?
A. More workers
B. Better printing press technology
C. A desire to read more books
D. Better sewing technology
A unit tax is
a. a tax in the form of a percentage of the value of the good taxed b. a fixed tax in the form of cents or dollars per unit of the good c. a sales tax applied to a foreign good d. any tax levied on a good e. the same as a poll tax
The fastest growing productivity increases in the United States have occurred in the personal services sector
a. True b. False Indicate whether the statement is true or false
Suppose Wrentham Gold Miners & Co chooses the quantity of gold each of its mines will produce over the next 12 months. Assuming the market price of gold remains constant over the period, identify the correct statement about the firm's total revenue. a. Total revenue will vary with the price charged by the firm
b. Total revenue will be maximized when market price is less than average variable cost. c. The total revenue curve of the firm will be U-shaped. d. Total revenue will vary with the quantity produced by the firm.