Which of the following best describes the basic characteristics of noncooperative oligopoly models?
A) Managers make decisions based on the strategy they think their rivals will pursue.
B) Managers attempt to deliberately mislead their rivals regarding the strategy they will pursue.
C) When making decisions, managers basically ignore the mutual interdependence that exists among rivals.
D) Managers refuse to negotiate with their rivals when it comes to such decisions as what price to charge.
A
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A fall in supply is illustrated by
a. a downward shift in the supply curve. b. moving the equilibrium point down and to the left along the supply curve. c. drawing the supply curve flatter. d. shifting the supply curve to the left.
From 2004 to 2008, the federal budget deficit, on an official fiscal-year basis, was
A. large and growing larger. B. “negative,” that is, the budget was in surplus. C. declining. D. increased by the rising Social Security deficit.