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.
The Peary caribou is a relatively small and pale subspecies found in the tundra of far northern Nort
The Dugong is an endangered species; the largest remaining population is found in Australian waters
Potency and efficacy: (a) drug A has a higher potency than drug B; (b) drug A has a higher efficacy
Liquid Formulations of Herbal Products
Natural Products
Probiotics are live microorganisms, usually bacteria, mainly found in cultured dairy foods