A dominant strategy is:
A. when one strategy is chosen by a firm first and determines the best strategies of the other players that follow.
B. when one strategy is chosen and cannot be changed without making at least one of the players worse off.
C. when one strategy is always the best for a player to choose, regardless of what other players do.
D. None of these statements is true.
C. when one strategy is always the best for a player to choose, regardless of what other players do.
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Countries with stable inflation rates tend to have ________ SAS curves
A) flat B) steep C) flat or steep D) None of the above. All countries have SAS curves with almost the same slope.
Consider a car dealership that advertises a three-year lease at $250 per month. When you arrive to apply, you discover that the lease requires a down payment of $3600 dollars. You will undertake the lease if
A) you value the lease at least $350 per month. B) you value the lease at least $250 per month, the $3600 is a sunk cost. C) you value the lease less than $350 per month. D) you value buying a new car at $400 per month.