To trust a potential cooperator until the first defection and then never cooperate thereafter is
a. a dominant strategy
b. an irrational strategy
c. a grim trigger strategy
d. a non-cooperative finite game strategy
e. a subgame imperfect strategy
c
Economics
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Refer to Figure 9.4. If the government establishes a price floor of $40 and purchases the surplus, total consumer and producer surplus will be
A) $15. B) 30 widgets. C) $1,050. D) $1,200. E) $1,350
Economics
For a good with many substitutes, _____
a. buyers pay less of the tax than the sellers b. demand is relatively inelastic c. supply is unit elastic d. sellers pay less of the tax than the buyers
Economics