Diminishing marginal product first sets in at the minimum point of the

American Airlines makes numerous nonstop flights from Chicago's O'Hare Airport to the airport at Dallas-Fort Worth. The distance between those two cities is 1,000 miles. The only variable cost, fuel, costs $.06 for each passenger-mile it flies. Bob, on his way to an emergency business meeting, buys a ticket in coach class for $1,300 at the very last minute. The marginal cost of flying Bob from

Chicago to Dallas-Fort Worth is: a. b and e. b. higher than the average cost of previous passengers. c. $600. d. $160. e. $60.

If a player has a strategy where one course of action outperforms all others no matter what other players do, that strategy is

A) a prisoner's dilemma. B) dominated. C) dominant. D) a winner.