The formation of cartels in the U.S. is illegal

The assumption of diminishing marginal rate of substitution means that

A) the budget line has a negative slope. B) the budget line does not shift when people's preferences change. C) indifference curves might have a positive slope. D) indifference curves will be concave.

What is a subgame?

A) It is a simultaneous game embedded in a sequential game. B) It is one that starts at the final decision node of the tree. C) It is one that begins at any decision node of the tree except the first decision node. D) It is one that begins at any node of the tree, including the game itself.