If a firm is selling a quantity that is NOT on its best-response curve it
A) will go out of business.
B) is in a Nash equilibrium.
C) will want to change its behavior.
D) is operating in a duopoly.
C
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On a graph, high correlation between the variable measured along the x-axis and the variable measured along the y-axis
A) means that changes in the variable measured along the x-axis must cause changes in the variable measured along the y-axis. B) means that changes in the variable measured along the y-axis must cause changes in the variable measured along the x-axis. C) means that changes in either variable must cause changes in the other variable. D) does NOT mean that a change in the variable measured along the x-axis must cause a change in the variable measured along the y-axis.
The purchase and sale of government bonds by the Fed for the purpose of altering bank reserves is referred to as:
A. Open-market operations. B. Closed-market operations. C. Discounting. D. Expansionary fiscal policy.