A dominant strategy can best be described as
A) a strategy taken by a dominant firm.
B) the strategy taken by a firm in order to dominate its rivals.
C) a strategy that is optimal for a player no matter what an opponent does.
D) a strategy that leaves every player in a game better off.
E) all of the above
C
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An increase in the U.S. interest rate relative to other countries will lead to ________ in the supply of dollars and a ________ in the exchange rate
A) an increase; fall B) a decrease; fall C) an increase; rise D) a decrease; rise E) no change; rise
A country opens up to trade and becomes an importer of a sugar. In the sugar market, consumer surplus will ________, producer surplus will ________, and total surplus will ________
A) increase; decrease; increase B) increase; decrease; decrease C) decrease; decrease; decrease D) decrease; increase; increase