Leona and Bernie have committed a crime. If Leona denies committing the crime, Bernie can lower his penalty from 5 years to 2 years by confessing to the crime
If Leona confesses to the crime, Bernie can lower his penalty from 18 years to 7 years by confessing to the crime. Based on this information, we know with certainty that A) Bernie's dominant strategy is to deny the crime.
B) Bernie has no dominant strategy.
C) Bernie's dominant strategy is to confess to the crime.
D) Bernie's dominant strategy is to confess to the crime only if Leona denies committing the crime.
C
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An increase in which of the following variables should cause an increase in profit per unit of capital?
A) total wages and salaries B) total sales C) the capital stock D) the ratio of total sales to the capital stock E) the ratio of total sales to total wages and salaries
In the 1960s and 1970s the U.S. passed several major consumer safety laws, including the Flammable Fabrics Act and the Child Protection Act. The economic impact of such legislation may include all of the following except:
a. reducing the price of the regulated product. b. increasing the cost of producing the regulated product. c. reducing the supply of the regulated product. d. reducing competition within the regulated industry.