Which statement is true of the Battle of the Sexes game?
a. It is a coordination game.
b. The mixed-strategy Nash equilibrium provides players with lower expected payoffs than other equilibria.
c. The first mover has an advantage in the sequential version.
d. All of the above.
d
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A specific tax of $1 per unit of output will affect a firm's
A) average total cost, average variable cost, average fixed cost, and marginal cost. B) average total cost, average variable cost, and average fixed cost. C) average total cost, average variable cost, and marginal cost. D) marginal cost only.
Which of the following statements is true?
A) Japan is more dependent on foreign trade than is the United States. B) Imports and exports account for over one-half of the GDP of Belgium. C) France is the leading exporting country, accounting for 10 percent of total world exports. D) Because the cost of labor used on farms is so high, the United States exports very little of its wheat, rice and corn crops.