Homework Clinic
Social Science Clinic => Economics => Microeconomics => Topic started by: Caiter2013 on Jul 1, 2018
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A consumer's reservation price is the
A) amount she will pay for a hotel or airline reservation.
B) minimum amount she will pay for a good or service.
C) price that maximizes her surplus.
D) maximum amount she will pay for a good or service.
Question 2
Mutually Assured Destruction was a standing policy during the Cold War, in which the United States and the USSR maintained and expanded nuclear arsenals beyond practical levels. What could explain such a phenomenon?
A) insane public officials who were bent on world domination
B) a prisoner's dilemma
C) a leader-follower type game
D) tacit collusion
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Answer to Question 1
D
Answer to Question 2
B