A decrease in supply of X increases the equilibrium price of X, which reduces the demand for X and automatically returns the price of X to its initial level.

A firm's expansion path

A) shows the targeted growth rate in sales over the long run. B) is the same thing as its long-run average cost curve. C) is a curve that shows a firm's cost-minimizing combination of inputs for every level of output, holding input prices constant. D) is a curve that shows expected profits at various price levels.

In game theory, the strategy that always yields the highest benefit for the player using it is the

A) dominant strategy. B) cooperative strategy. C) prisoners' strategy. D) matrix strategy.