In the payoff matrix shown:
A. neither firm has a dominant strategy.
B. both firms have a dominant strategy to price high.
C. both firms have a dominant strategy to price low.
D. one firm has a dominant strategy to price high, the other to price low.
C. both firms have a dominant strategy to price low.
Economics
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The data in the above table show that when the price level is 120, the economy
A) is in a long-run macroeconomic equilibrium. B) has an inflationary gap. C) has a recessionary gap. D) will have falling money wage rates sometime in the future.
Economics
Using the demand schedule in the table above, the total revenue a perfectly price discriminating monopolist receives from selling 5 units of output is
A) $5. B) $15. C) $18. D) $25.
Economics