If Jet Cruises chooses to Ad and Easy Sail then chooses to No Ad, Jet Cruises earns ________ million in net profit and Easy Sail earns ________ million.
Jet Cruises wants to prevent Easy Sail from entering the sailboat market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Jet Cruises and Easy Sail have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) $4; $3 B) $2; $4 C) $5; $2 D) $10; $2
C) $5; $2
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Of the several ways that the United Auto Workers can increase the wages of its members,
a. none can also increase employment b. only direct negotiation of a wage above the competitive level can also increase employment c. only restricting the supply of labor can also increase employment d. only increasing the demand for labor can also increase employment e. only binding arbitration can also increase employment
A goal of libertarians is to provide citizens with equal opportunities rather than to ensure equal outcomes
a. True b. False Indicate whether the statement is true or false