First-mover advantage is a characteristic of
a. A simultaneous-move game
b. A dominant strategy
c. A sequential-move game
d. All of the above
c
Economics
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Refer to Figure 5-1. At the efficient equilibrium,
A) economic surplus is minimized. B) economic surplus is maximized. C) economic surplus is zero. D) economic surplus is negative.
Economics
Supply-side economists argue cuts in tax rates
A) always reduce tax revenues. B) may increase tax revenues. C) always increase budget deficits. D) have no effect on tax revenues.
Economics