Author Question: The firm's expansion path records: a. profit-maximizing output choices for every possible price. ... (Read 72 times)

123654777

  • Hero Member
  • *****
  • Posts: 585
The firm's expansion path records:
 a. profit-maximizing output choices for every possible price.
  b. cost-minimizing input choices for all possible output levels for when input rental rates expand along with production.
  c. cost-minimizing input choices for all possible output levels for a fixed set of input prices.
  d. cost-minimizing input choices for profit-maximizing output levels.

Question 2

To trust a potential cooperator until the first defection and then never cooperate thereafter is
 a. a dominant strategy
  b. an irrational strategy
  c. a grim trigger strategy
  d. a non-cooperative finite game strategy
  e. a subgame imperfect strategy



pami445

  • Sr. Member
  • ****
  • Posts: 303
Answer to Question 1

c

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

For a complete list of videos, visit our video library