An economic model can be described as
a. an abstract representation of reality
b. a detailed description of some economic phenomenon
c. something that is often more complex than the real-world phenomenon it represents
d. a vehicle for making positive economic statements
e. a vehicle for making normative economic statements
A
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Assume there are three players in a game, Tom, Dick, and Harry, and all three want to meet up at either at the Library or the Student Union, no player knows with certainty where the other two will go, and they will consider their mission a failure if
all three do not meet at the same location. Use a series of "if-then" statements to describe Tom's ideal strategies based on the possible choices of Dick and Harry. Explain if Tom has a dominant strategy?
A polluting source that cannot be identified accurately and degrades the environment in a diffuse, indirect way is a
a. stationary source c. nonpoint source b. point source d. mobile source