In the short run, profit maximization typically occurs where total revenue is at its maximum

Refer to Table 20-15. Looking at the table above, real average hourly earnings in 2014 were

A) $9. B) $9.52. C) $10. D) $12.63.

Is this Nash equilibrium efficient?

a. Yes, because the sum of payoffs is highest b. No, because both the parties can do better c. No, because both the parties are maximizing their profits d. All of the above