Identify the basis on which you measure the liquidity of an asset

As a result of legislation to establish a floor price for milk, most dairy farmers will

a. end up earning a normal rate of return in the long run b. end up earning a zero rate of return in the long run c. end up earning a negative rate of return in the long run d. benefit from the increased cost of specialized resources used in dairy farming e. suffer if they own specialized resources at the time the legislation is passed

Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. Which of the following statements is true?

A. Lee's dominant strategy depends on Jordan's choice. B. Lee does not have a dominant strategy. C. For Lee, seeing a documentary is a dominant strategy. D. For Lee, seeing a comedy is a dominant strategy.