Author Question: Communication between players prior to the start of a game that does NOT affect the payoffs is ... (Read 125 times)

cnetterville · **on:** Jul 1, 2018

Communication between players prior to the start of a game that does NOT affect the payoffs is called

A) cheap talk.
B) ineffective bargaining.
C) a binding verbal contract.
D) pareto efficient.

Question 2

A cost function has economies of scale if

A) average fixed costs fall as production increases.
B) total costs fall as production increases.
C) the average total cost falls as production increases.
D) it is less expensive to produce goods jointly rather than separately.