Most economists believe that classical theory describes the world
a. in the short run.
b. in the long run.
c. in both the short run and the long run.
d. in neither the short run nor the long run.
b
Economics
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Which of the following statements is TRUE about a non-cooperative game?
A) When two players each have a dominant strategy, joint profits may not be maximized. B) When two players each have a dominant strategy, joint profits are maximized. C) When players use their best responses, joint profits are maximized. D) None of the above.
Economics
The user cost of capital is represented by which of the following variables?
A) ?t B) rt C) 1/(rt + ?) D) ?t /( rt + ?) E) none of the above
Economics