The beauty of Nash's equilibrium concept is that
a. all games have one.
b. all games have no more than one.
c. all games have a rich set to choose from.
d. it is a Pareto optimum.
a
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The demand and supply schedules for pizza are in the table above. If the government sets a maximum legal price of $2 per slice of pizza, then
A) there is a shortage of 20 slices of pizza. B) this maximum price is an example of a price floor. C) this maximum price is an example of a price ceiling. D) Both answers A and C are correct. E) Both answers B and C are correct.
If the U.S. interest rate differential increases, then in the foreign exchange market the
A) quantity of U.S. dollars supplied increases. B) supply of U.S. dollars decreases. C) demand for U.S. dollars does not change. D) supply of U.S. dollars increases.