According to experience, what is the most effective solution to highway congestion?
a) to discount transit passes
b) to discourage urban sprawl by subsidizing urban apartment rents
c) to build more roads
d) to set a price for access to roads, which is paid by those who use them
Ans: d) to set a price for access to roads, which is paid by those who use them
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The number of firms in a monopolistically competitive market means that
A) all firms will have substantial monopoly power since there are so few firms in the industry. B) each firm has a relatively small share of the total market since there are many firms in the industry. C) the firms will be likely to collude since there are only a few firms in the industry. D) firms will have a hard time earning non-negative profits since there are many firms in the industry.
What would be the Nash equilibrium of this simultaneous game?
a. Boxing, boxing b. Ballet, ballet c. Boxing, ballet d. Both A&B