Relative to life insurance companies, the liabilities of property and casualty insurance companies are

Oscar and Felix are the only firms that clean offices in a large city. They agree to operate as a cartel. The payoff matrix shows the economic profit that each firm can make

If the game is played repeatedly and Felix and Oscar both use a tit-for-tat strategy, then ________. A) Felix will make $10 million of economic profit and Oscar will cheat B) Felix and Oscar will each make $1 million of economic profit C) Felix will make -$2 million economic of profit and Oscar will cheat D) Felix and Oscar will each make $10 million of economic profit

Holding everything else constant, a decrease in the price of GPS systems will result in

A) a decrease in the supply of GPS systems. B) an increase in the quantity of GPS systems demanded. C) an increase in the demand for GPS systems. D) an decrease in the quantity of GPS systems demanded.