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Author Question: The common habit of viewing middlemen as unproductive bandits on the highway of free trade assumes ... (Read 62 times)

ishan

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on: Jun 29, 2018
The common habit of viewing middlemen as unproductive bandits on the highway of free trade assumes
 
  A) transaction costs are zero.
  B) information is a free good.
  C) voluntary exchange is not mutually beneficial.
  D) all of the above.
  E) none of the above.

Question 2

When does a game have a first-mover advantage?
 
  What will be an ideal response?


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anoriega3

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A game has first-mover advantage when the first player to act in a sequential game gets a benefit from doing so.


ishan

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Reply #2 on: Jun 29, 2018
Thank you


anoriega3

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Reply #3 on: Jun 29, 2018
No problemo


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