The poverty line
A. is shifted downward from year-to-year.
B. is constant.
C. is raised from year-to-year.
D. is tied to the unemployment rate.
C. is raised from year-to-year.
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A natural monopoly's average cost curve i. intersects the demand curve while the average cost curve slopes downward
ii. reaches its minimum before it intersects the demand curve. iii. intersects the demand curve below the intersection of the marginal cost curve and the demand curve. A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
The two largest auto manufacturers, Toyota and GM, have experimented with hydrogen powered cars in the past, and they are currently considering the decision to introduce a hydrogen powered car into the commercial automobile market
The payoffs from the possible actions are measured in millions of dollars per year, and the possible outcomes are summarized in the following game matrix: GM produces GM does not produce Toyota produces -10, -10 50, 0 Toyota does not produce 0, 40 0, 0 If both firms enter the market simultaneously, what is the Nash equilibrium? A) Toyota produces and GM does not produce. B) GM produces and Toyota does not produce. C) There are two Nash equilibria - GM produces and Toyota does not produce, or Toyota produces and GM does not produce. D) There is no Nash equilibrium in this game.