The prisoner's dilemma is a game in which:
a. the gains from pursuing self-interest are greater than the gains from cooperation
b. the gains from cooperation are greater than the gains from pursuing self-interest.
c. the gains from pursuing self-interest are greater for a smaller firm than for a larger firm.
d. the gains from pursuing self-interest are greater for a larger firm than for a smaller firm.
b
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Silvio's Pizza is a small pizzeria. The firm's production function is shown in the table above
Suppose that Silvio's costs include only the cost of renting ovens, which is $100 per oven per week, the labor cost, $280 per worker per week, and the opportunity cost of Silvio's entrepreneurship, $1,000 per week. Suppose Silvio's uses Plant 2. If Silvio hires the 4th worker, the firm will experience ________ marginal returns. A) diminishing B) increasing C) constant D) zero
A major difference between tax systems in developing and developed country is that
a. developing countries rely on direct taxes, and developed countries rely on indirect taxes b. developing countries rely on indirect taxes and developed countries rely on direct taxes c. developing countries rely on domestic taxes and developed countries rely on taxes on foreign trade d. developing countries rely on ‘forced saving' and developed countries tax saving directly e. there are no significant differences