Cheap talk
A) is never credible.
B) is illegal.
C) generally affects the game's payoffs.
D) can be credible when both firms have an incentive to be truthful.
D
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Businesses need to direct their product marketing strategies to the individuals most likely to purchase it. Often marketing managers examine potential markets for their possible effects on the firm's sales, costs, and profits. Which of the following is the designation given for the group to which marketing managers direct the focus of their marketing efforts for a product?
a. Potential market b. Mixed market c. Target market d. Market segment
In which of the following situations would the average standard of living rise?
a. GDP grows at the same rate as population b. GDP grows more slowly than population c. GDP grows faster than population d. GDP per capita remains constant e. GDP grows faster than transfer payments.