Define a simultaneous one-time game
What will be an ideal response?
A simultaneous one-time game is one where firms select their optimal strategies at the same time and in a single time period without regards to future interactions.
Economics
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In a perfectly competitive industry, the demand for a single firm's product is
A) perfectly inelastic. B) perfectly elastic. C) as elastic as the market demand. D) inelastic, but not perfectly inelastic.
Economics
A factor that limits the amount of saving in developing countries is the fact that:
A. The banking system does not encourage saving B. There is too much foreign aid so savings is not needed C. The level of aggregate domestic output is low D. The government controls financial institutions and makes it difficult for people to save
Economics