If airports decide to compensate people who suffer from airplane noise because their homes are under the runway approaches, to whom should they offer monetary payments? The people who
A) actually live in affected residences.
B) are bothered by the noise but themselves never travel on commercial airlines.
C) both own affected residences and live in them.
D) either own affected residences or live in them.
E) own affected residences whether or not they live in them.
E
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The above figure shows the payoff matrix for two firms, A and B, selecting an advertising budget. The firms must choose between a high advertising budget and a low advertising budget. Firm B's dominant strategy
A) does not exist. B) is to copy firm A. C) is to select a high advertising budget. D) is to select a low advertising budget.
As a firm attempts to increase its production, its long-run average costs eventually rise because of
A) the law of diminishing returns. B) diseconomies of scale. C) fixed capital. D) insufficient demand.