What would the Nash equilibrium be in this game?
a. Neither of the players would stop
b. Both of the players would stop
c. Player A stops
d. Player B stops
b
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Joey cuts grass during the summer. He rents a lawn mower from his dad. Which of the following statements best illustrates the difference between the short run and the long run for Joey?
A) Joey's friends say they will help him, but when he calls them, they say they have other things to do. B) When Joey acquires more customers, he responds by working more hours. Next year, he will buy a lawn mower and split the work with his brother. C) Some customers pay Joey immediately; others wait till the following week. D) Joey has had to turn away some customers because he is already too busy.
The antitrust legislation that made it illegal for a firm to buy a competitor's voting stock was the:
a. Sherman Antitrust Act. b. Celler-Kefauver Act. c. FTC Act. d. Robinson-Patman Act. e. Clayton Act.