A mixed strategy is most useful:
A. in simultaneous games.
B. only when the outcome is random.
C. in both sequential and simultaneous games.
D. in sequential games.
Answer: A
Economics
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A decrease in short-run aggregate supply ________ the equilibrium price level and ________ the equilibrium quantity of real GDP
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Economics
In the market for jeans, which of the following events increases the de-mand for a pair of jeans?
A. The wage rate paid to garment workers rises. B. The price of a denim skirt (a substitute for jeans) rises. C. The price of denim cloth falls. D. New technology reduces the time it takes to make a pair of jeans.
Economics