Author Question: A consumer's reservation price is the A) amount she will pay for a hotel or airline reservation. ... (Read 93 times)

Caiter2013 · **on:** Jul 1, 2018

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