【題目】 The prisoners’ dilemma is a simple game in which: both parties gain by following their own self-in terests. both parties are made worse off by following their own self-interests. one party is made better off and another worse off by f ...
【題目】 What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell? Price will fall and the effect on quantity is ambiguous. Price will rise and the effect on quantity is ambiguous. ...
【題目】 If resources are used efficiently, then _____. consumer surplus equals producer surplus producer surplus is maximized opportunity cost is minimized consumer surplus plus producer surplus is maximized
【題目】 Under which of the following conditions would the interdiction of illegal drugs result in a decrease in the quantity of drugs sold and in a decrease in total spending on illegal drugs by drug users? The price elasticity of demand for illegal drugs is 1.3.   ...
【題目】 A simple linear demand function may be stated as Q= a-bP+cI where Q is quantity demanded , P is the product price, and I is consumer income. To compute an appropriate value for c, we can use observed values for Q and I and then set the estimated income elasticity of demand equal t ...