Other things the same, in which case is the quantity produced the highest?
a. There is one firm.
b. There are two firms that successfully collude.
c. There are two firms in Nash equilibrium.
d. There are a very large number of firms.
d
Economics
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Suppose Albania is exporting product B, and experienced economic growth biased in favor of product B as seen in the figure above. We are also told that Albania's new consumption point is at point d
Would you still consider the economic growth, which took place biased in favor of B? If Albania were a large country how would this growth affect its terms of trade?
Economics
What type of risk behavior does the person exhibit who is willing to pay $5 for the chance to bet $60 on a game where 20% of the time the bet returns $100, and 80% of the time returns $50? Explain
What will be an ideal response?
Economics