Economists would most likely use which of the following to test a hypothesis?
a. using an exact control of variables to determine buying preferences
b. observing human behavior in a laboratory setting
c. using surveys to ask people about their buying preferences
d. observing human behavior in a retail store
d. observing human behavior in a retail store
Economics
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Refer to the scenario above. What is the payoff to Firm B in equilibrium?
A) $2.6 million B) $0 C) $4 million D) $3 million
Economics
When a natural monopoly is regulated using a marginal cost pricing rule, what can you say about the firm's profit and the market's efficiency?
What will be an ideal response?
Economics