In the sequential version of a game using the same players, the same strategies, and the same possible outcomes as the original game, the equilibrium
A) may be different than in the original game.
B) must be different than in the original game.
C) will be the same as in the original game.
D) is the same as the cooperative version of the original game.
E) is the same as the noncooperative version of the original game.
A
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Which of the following is true about the demand curve for a monopolistically competitive firm?
a. It is less elastic (steeper) than for monopoly, but more elastic (flatter) than for a perfectly competitive firm. b. It is less elastic (steeper) than the demand curve for either a monopoly firm or a perfectly competitive firm. c. It is more elastic (flatter) than the demand curves for either a monopoly firm or a perfectly competitive firm. d. It is less elastic (steeper) than for a perfectly competitive firm, but more elastic (flatter) than for a monopoly firm.
When property rights are not well established,
a. private goods become public goods. b. markets fail to allocate resources efficiently. c. the distribution of private goods is unfair. d. government resources are used inefficiently.