Playing the game in Scenario 13.12 sequentially would
A) not change the equilibrium.
B) change the equilibrium to (R1,C1 ).
C) change the equilibrium to (R2,C1 ) if R moved first.
D) change the equilibrium to (R2,C1 ) if C moved first.
E) change the equilibrium to (R2,C2 ).
A
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If baked potatoes and sour cream are complements, then an increase in the price of sour cream decreases the demand for baked potatoes
a. True b. False Indicate whether the statement is true or false
(Last Word) The fallacy of composition states that:
A. because economic systems are composed of so many diverse economic units, economic laws are necessarily inexact. B. the anticipation of a particular event can affect the composition of that event when it occurs. C. what is true for the individual must necessarily be true for the group. D. because event A precedes event B, A is necessarily the cause of B.