Game theory is distinctive in that its elements are
A) costs, prices, and profits.
B) revenues, elasticity, and profits.
C) rules, strategies, payoffs, and outcomes.
D) patents, copyrights, and barriers to entry.
C
Economics
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Olives are used to produce olive oil. If the price of olives increases
A) the supply of olive oil decreases. B) the supply of olive oil increases. C) the demand for olive oil decreases. D) the demand for olive oil increases.
Economics
For a firm in a perfectly competitive labor market, the supply curve of labor is
A) elastic. B) inelastic. C) perfectly elastic. D) perfectly inelastic.
Economics