In the game in Scenario 13.17, Incumbent Monopoly has
A) an incentive to threaten accommodation, which would be credible.
B) an incentive to threaten war, which would be credible.
C) an incentive to threaten accommodation, which wouldn't be credible.
D) an incentive to threaten war, which wouldn't be credible.
E) no incentive to make a threat.
D
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In the short run, which one of the following causes a competitive firm to hire more labor?
A) an increase in wage rate B) an increase in the output price C) a specific tax imposed on the firm's output D) a decrease in the output price
Marginal cost
a. is the increase in total cost resulting from production of one additional unit of output. b. is the cost of the marginal unit of output. c. and the average cost curve are U-shaped. d. All of the above are correct.