Refer to the scenario above. Which of the following is likely to be true if Joe is known to be trustworthy?
A) Multiple equilibria will occur.
B) A Nash equilibrium will occur.
C) A socially inefficient equilibrium will occur.
D) A dominant strategy equilibrium will occur.
B
Economics
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Most cohesion funds in the EU budget go to the wealthier EU member nations
Indicate whether the statement is true or false
Economics
Suppose that when the price of good X falls from $6 to $4, the quantity demanded of good Y rises from 30 units to 40 units. Using the midpoint method, the cross-price elasticity of demand is
a. -0.71, and X and Y are complements. b. -1.40, and X and Y are complements. c. -0.71, and X and Y are substitutes. d. -1.40, and X and Y are substitutes.
Economics