Game theory is just as necessary for understanding competitive or monopoly markets as it is for understanding oligopolistic markets

Hedging risk for a short position is accomplished by

A) taking a long position. B) taking another short position. C) taking additional long and short positions in equal amounts. D) taking a neutral position.

Markets tend to overallocate resources to the production of a good when

A) there are negative externalities. B) there are positive externalities. C) there are public goods produced. D) equilibrium occurs.