What is true about threats in the game in Scenario 13.15?
A) Simple can change the equilibrium by means of a credible threat; Boring cannot.
B) Boring can change the equilibrium by means of a credible threat; Simple cannot.
C) Boring can change the equilibrium by means of a credible threat only if it can move before Simple.
D) Simple can change the equilibrium by means of a credible threat only if it can move before Boring.
E) Neither firm has a credible threat with which to change this equilibrium.
E
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Refer to Figure 2-4. Consider the following events:
a. an increase in the patent protection period to 75 years b. a hurricane that destroys a substantial portion of a nation's capital stock c. the implementation of a secure and enforceable property rights system Which of the events listed above could cause a movement from W to Z? A) a only B) a and b only C) a and c only D) b and c only E) a, b, and c
When additions of input to a fixed quantity of another input lead to progressively smaller increases in output, we say we are facing
A) accelerating returns. B) decreasing production. C) negative returns. D) diminishing returns.