If both players in a game have dominant strategies, we say that the game has:
A) a constant sum.
B) a nonconstant sum.
C) independence of irrelevant alternatives.
D) an equilibrium in dominant strategies.
D
Economics
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Suppose you observe that minor changes in supply seem to cause dramatic changes in price with only slight changes in the amount sold, you would conclude that
A. demand is inelastic. B. demand is elastic. C. demand is perfectly inelastic. D. demand is unit elastic.
Economics
Inflation is defined as:
a) An increase in the price of expensive items, such as cars. b) An increase in relative prices. c) An increase in the average level of prices. d) The level of prices at full-employment.
Economics