The term "inverse demand curve" refers to
A) a demand curve that slopes upward.
B) expressing the demand curve in terms of price as a function of quantity.
C) the demand for "inverses."
D) the difference between quantity demanded and supplied at each price.
B
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The above figure shows the payoff matrix for two firms, A and B, choosing to produce a basic computer or an advanced computer. Which of the following is a Nash equilibrium?
A) Firm A produces an advanced computer, and firm B produces a basic computer. B) Both firms produce advanced computers. C) Both firms produce basic computers. D) None of the above.
All of the following illustrate how government can correct for positive externalities EXCEPT
A) subsidies. B) regulation. C) government financing and production. D) charging effluent fees.