Development economics must have a scope wider than traditional economics because
a. values and attitudes play little role in the pace of development.
b. people in developing societies do less utility-maximizing.
c. transformation of social institutions is necessary for development.
d. all of the above.
C
Economics
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If a duopolists' collusive price-fixing game can be played repeatedly,
A) one possible equilibrium is that both firms cheat. B) players can signal their willingness to cooperate. C) players can punish cheaters in the following game. D) All of the above answers are correct.
Economics
In the perfectly competitive market, all firms in the market are assumed to be producing:
a. identical products. b. differentiated products. c. products that are heavily advertised. d. complementary products.
Economics