Common knowledge in game theory
A) is information known by all players.
B) is required for static games.
C) does not impact the outcome of the game, since everyone has the information.
D) Both A and B.
A
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In the long run, an increase in FDI in the manufacturing sector will:
a. increase marginal product of labor in the agriculture sector. b. increase marginal product of labor in the manufacturing sector. c. decrease marginal product of labor in the agriculture sector. d. not change the marginal product of labor in either sector
Nobody needs soda. So why do people drink it?
A) They deny the data and believe they really do need soda. B) The expected additional benefits of another soda outweigh the additional costs. C) There are no substitutes for soda. D) Soda is a good for the people who consume it, and therefore they will drink it at any price.