In the prisoners’ dilemma game, each player ________. A. consults the other player to determine his best action B. chooses the best outcome for the other player C. chooses the best outcome for himself D. chooses the best outcome for both players together

Which of the following firms produce at an efficient scale​?

A. Toyota produces 20 cars a day at its Texas plant at which its profit is maximized.

B. Dell produces 100 computers a week at which its average total cost is minimized.

C. ​Starbucks makes 1000 chai lattes each day at which is total revenue is maximized.

D. A Gap outlet in Chicago sells 500 jackets a day and lowers its average variable cost.

Which of the following statements is incorrect. In oligopoly, ________.

A. barriers to entry prevent new firms entering

B. each firm’s profit is influenced by each other firms’ advertising

C. each firm’s action is influenced by the actions and reactions of each other firm

D. each firm is a price taker and the price is the monopoly profit-maximizing price

True or False. The story of the prisoners' dilemma contains a general lesson that applies to any group trying to maintain cooperation among its members.

Which of the following statements is incorrect. In oligopoly ________. A. barriers to entry prevent new firms entering B. each firm’s profit is influenced by each other firms’ advertising C. each firm’s action is influenced by the actions and reactions of each other firm D. each firm is a price taker and the price is the monopoly profit-maximizing price

What is market commonality? What is resource similarity? In what way are these concepts the building blocks for a competitor analysis?

What is the prisoners’ dilemma, and what does it have to do with oligopoly?.

A single-price monopoly maximizes profit by producing the quantity at which ________.

A. its total revenue will be as large as possible

B. marginal revenue equals marginal cost and setting the price equal to marginal revenue

C. marginal revenue equals marginal cost and setting the price equal to marginal cost

D. marginal revenue equals marginal cost and setting the price equal to the most people are willing to pay for that quantity

The pet store sells a lot of pet food. On a slow day at the pet store, three people buy cat food, two people buy dog food, and one person buys food for a pet snake. If half of the customers pay with cash and half pay with credit card, what is the probability that a customer buying pet food will buy dog food with cash? Set up an area model to help you find the probability.

In the long run, each firm in monopolistic competition ________. A. makes zero economic profit B. makes as much economic profit as it would if it was a monopoly C. has the same markup and excess capacity as it would if the market was perfectly competitive D. creates the same deadweight loss as it would if it was a monopoly

The two types of imperfectly competitive markets are:

a. monopoly and monopolistic competition.

b. monopoly and oligopoly

c. monopolistic competition and oligopoly.

d. monopolistic competition and cartels

Which of the following is an example of differentiated products? A. Coke and Pepsi B. automobiles and bicycles C. trucks and gasoline D. stocks and bonds E. gold and silver

John Locke's contract theory of government argued that:

Which parenting style could lead to social incompetence, truancy, and delinquency in children?

a. authoritarian parenting

b. authoritative parenting

c. indulgent parenting

d. neglectful parenting