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Author Question: An owner of a local salon realized that by decreasing the prices that she charges for haircuts, her ... (Read 55 times)

Diane

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  • Posts: 576
on: Jul 1, 2018
An owner of a local salon realized that by decreasing the prices that she charges for haircuts, her revenue has increased. This implies that
 a. The demand for her haircuts is elastic
 b. The demand for her haircuts is inelastic
 c. The demand for her haircuts is unitary elastic
 d. The demand for her haircuts is perfectly inelastic

Question 2

Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?
 a. Start by cooperating
 b. Start the game by punishing the rivals
  c. Start the game by cheating on the rivals
  d. All of the above


katheyjon

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

a

Answer to Question 2

a


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