The firm's variable cost include costs that
a. change as the price of the good changes
b. change as the firm's output changes
c. can never be changed
d. can only be changed in the long run
e. change with economies of scale and remain unchanged with diseconomies of scale
B
Economics
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In practice, price discrimination is never perfect. Why?
What will be an ideal response?
Economics
A cooperative equilibrium results when firms
A) choose a strategy by random chance. B) choose the best strategy regardless of what other players do. C) choose the strategy that minimizes the payoff to other players. D) choose the strategy that maximizes the total game payoff.
Economics