For many products, such as fast foods, a variety of prices can be found, but sellers with higher prices can expect to sell their products because
A) arbitrage will quickly eliminate price differences.
B) their demand is perfectly inelastic.
C) firms differentiate products in many ways, for example, higher-priced fast food restaurants may offer better service.
D) consumers are not sensitive to prices.
Question 2
A game in which each player adopts its dominant strategy
A) will not lead to an equilibrium. B) can never result in a Nash equilibrium.
C) could result in a Nash equilibrium. D) must be a cooperative game.
Carnivorous plants, such as this pitcher plant (Sarracenia purpurea) are commonly found in bog habit
Nurses possess a wide variety of experiences which they take into each patient encounter.
A spider from the genus Selenops, which have been found to be able to glide thro
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Early in the twentieth century, when malnutrition was common, companies such as this one advertised
Percent of Selected Foods and Beverages Consumed in the United States