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Author Question: If the price of pork rinds falls, the substitution effect due to the price change will cause A) ... (Read 151 times)

nautica902

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If the price of pork rinds falls, the substitution effect due to the price change will cause
 
  A) an increase in the quantity of pork rinds demanded.
  B) a decrease in the quantity of pork rinds demanded.
  C) an increase in the demand for pork rinds.
  D) an increase in the demand for corn chips, a substitute for pork rinds.

Question 2

What is a maximin strategy?
 
  What will be an ideal response?



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gstein359

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Answer to Question 1

A

Answer to Question 2

In game theory, a maximin strategy is a strategy chosen to maximize the minimum gain that can be earned.




nautica902

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


amynguyen1221

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Reply 3 on: Yesterday
Gracias!

 

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