All games share three characteristics. Two of these characteristics are rule and strategies. What is the third characteristic called?
A) competition
B) collusion
C) results
D) payoffs
Answer: D
Economics
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A beneficial supply shock would cause the FE line to
A) shift to the right. B) shift to the left. C) remain unchanged. D) remain unchanged if the shock is temporary; shift to the right if the shock is permanent.
Economics
Refer to the above figures. An external cost exists. This will lead to a(n)
A) underproduction equal to Q1 minus Q2. B) overproduction equal to Q4 minus Q3. C) underproduction equal to Q4 minus Q3. D) overproduction equal to Q1 minus Q2.
Economics