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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 149 times)

nautica902

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on: Jun 29, 2018
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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Reply #1 on: Jun 29, 2018
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

scikid

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Reply 3 on: Yesterday
Excellent

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