Consider the game between the teens from the previous question. The pure-strategy Nash equilibrium is (equilibria are)
a. Both Declare.
b. Both Ignore/Rebuff.
c. There are two: in one, both Declare, and in the other, both Rebuff/Ignore.
d. There are two: in both, the teens do the opposite of each other.
c
Economics
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A firm's profit is
A) usually negative when opportunity costs are included. B) the difference between marginal revenue and marginal cost. C) the opportunity cost of the firm's shareholders. D) the difference between revenue and cost.
Economics
When the price level falls from 135 to 120, the aggregate level of GDP supplied falls from $140 billion to $125 billion. This ________ relationship represents the ________ relationship between GDP and the price level
A) negative; short-run B) positive; short-run C) negative; long-run D) positive; long-run
Economics