Under rent control, bribery is a mechanism to
a. bring the total price of an apartment (including the bribe) closer to the equilibrium price.
b. allocate housing to the poorest individuals in the market.
c. force the total price of an apartment (including the bribe) to be less than the market price.
d. allocate housing to the most deserving tenants.
a
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A firm's average total cost is $60, its average variable cost is $30, and its total fixed cost is $600. Its output is
A) 20 units. B) 30 units. C) 40 units. D) 50 units.
Refer to Table 14-3. Is there a dominant strategy for Saudi Arabia and, if so, what is it?
A) Yes, the dominant strategy is to produce a low output. B) Yes, it has a dominant strategy depending on what Nigeria does. C) Yes, the dominant strategy is to produce a high output. D) No, there is no dominant strategy.