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Author Question: When firms are faced with making strategic choices in order to maximize profit, economists typically ... (Read 99 times)

HCHenry

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on: Jun 30, 2018
When firms are faced with making strategic choices in order to maximize profit, economists typically use ____ to model their behavior.
 a. monopoly theory
 b. game theory
 c. cartel theory
 d. the theory of perfect competition

Question 2

Which of the following problems associated with asymmetric information can be avoided by using a product warranty?
 a. Lemons problem
  b. Problem of adverse selection
  c. Moral Hazard
  d. Problem of blind sight


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Expo

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

A


HCHenry

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

ryhom

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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