A dominant strategy ________
A) always results in equal payoffs to all the players in a game
B) always results in zero payoff to the opponent
C) results in a higher payoff irrespective of the strategy chosen by the other player
D) always results in a lower payoff irrespective of the strategy chosen by the other player
C
Economics
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Compared to a single-price monopoly, a perfectly competitive market with the same costs produces ________ output and has a ________ price
A) less; lower B) less; higher C) more; lower D) more; higher
Economics
As a country moves up along its "bowed-out" production-possibility curve, the opportunity cost of producing more of the good measured on the y-axis decreases.
Answer the following statement true (T) or false (F)
Economics