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Author Question: Given that the own-price elasticity of demand for a brand of shoes is -2, the demand for this brand ... (Read 76 times)

neverstopbelieb

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on: Jul 1, 2018
Given that the own-price elasticity of demand for a brand of shoes is -2, the demand for this brand of shoes is
 a. unitary elastic
  b. indeterminate.
  c. elastic.
 d. inelastic.

Question 2

Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?
 a. Make sure that your competitor clearly understands your actions and intentions
  b. Make sure that your competitor keeps guessing about your actions and intentions
  c. Make sure you keep your actions and intentions ambiguous
 d. All of the above


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djpooyouma

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

a


neverstopbelieb

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

Joy Chen

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Reply 3 on: Yesterday
Excellent

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