In the long run, equilibrium positions that arise in both monopolistically competitive and perfectly competitive markets are
A) MR = MC and P = MC.
B) P = ATC and P = MC.
C) MR = MC and P = ATC.
D) MR = MC = P.
C
Economics
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In Zealand, banks' desired reserve ratio is 20 percent and there is no currency drain. The money multiplier equals ________
A) 0.50 B) 0.20 C) 20.0 D) 5.0
Economics
Refer to the below table. When this game reaches a Nash equilibrium, the payoffs will be
Answer the question based on the following payoff matrix for a duopoly in which the numbers indicate the profit from following either an international strategy or a national strategy.
A. $3M for both firms.
B. $17M for both firms.
C. $15 for firm A and $5 for firm B.
D. $5 for firm A and $15 for firm B.
Economics