The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, how many pure Nash equilibria are there?

All of the following are strategies a firm with market power can adopt to increase it profits over time except:

A) mergers with, and acquisitions of, competing firms. B) erecting barriers to entry. C) setting price equal to the marginal costs of production. D) influencing the regulatory process.

Discovery of new gold in Alaska will ________ the ________ of gold, ________ its price, everything else held constant

A) increase; demand; increasing B) decrease; demand; decreasing C) decrease; supply; increasing D) increase; supply; decreasing