In 1937-1938, the number of unemployed
A. fell dramatically by about 5 million.
B. fell slightly by about 1 million.
C. rose slightly by about 1 million.
D. rose dramatically by about 5 million.
D. rose dramatically by about 5 million.
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A coordination problem arises whenever there:
A. are multiple Nash equilibria. B. is a unique Nash equilibrium but it is not very desirable. C. are no dominant strategies for both players. D. is no Nash equilibrium in a game.
Refer to the information provided in Figure 5.4 below to answer the question(s) that follow. Figure 5.4Refer to Figure 5.4. The demand for milkshakes is unit elastic at Point C. If the milkshake price falls from P1 to P2, total revenue will
A. decrease. B. remain constant. C. either increase or decrease. D. increase.