Given the situation in the matrix shown, we can predict that Firm A's profits will be:
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
A. $50 million.
B. $100 million.
C. $200 million.
D. $300 million.
B. $100 million.
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A marginally attached worker is
A) a person who is not happy with his or her job. B) someone who works part-time more than 25 hours per week but wants full-time work. C) someone who does not have a job but is available and willing to work and has made specific but unsuccessful efforts to find a job during the past 4 weeks. D) someone who does not have a job but is available and willing to work but has not made specific efforts to find a job during the past 4 weeks. E) another name for an unemployed worker.
What effect would an increase in the price of pork have on the demand for beef?
A) It would decrease the demand for beef. B) It would decrease the demand for beef only if the demand for beef is elastic. C) It would increase the demand for beef. D) It would increase the demand for beef only if the demand for beef is inelastic. E) It would have no effect, because a change in price affects only the quantity demanded, not the demand.