Larry's Lizards and Ronaldo's Reptiles are competing pet store franchises. Both are considering opening a store in the small town of Turtleville. If Ronaldo's opens a profitable store in Turtleville and Larry's management determines that
it is not profitable to also open a store, then:
A. this is a simultaneous game.
B. a Nash equilibrium is not possible in this game.
C. Ronaldo's had a first-mover advantage in this game.
D. this is a zero-sum game.
Answer: C
Economics
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Which of the following is the growth rate of the standard of living?
A) y - q B) y - n C) y - a D) y - b
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