« previous next »

Author Question: An owner of a local salon realized that by decreasing the prices that she charges for haircuts, her ... (Read 23 times)

Diane

  • Hero Member
  • *****
  • 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

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Gasoline prices Gasoline prices
The Local Group The Local Group
Cai Guo-Qiang, Transient Rainbow, realized over the East River, New York. Cai Guo-Qiang, Transient Rainbow, realized over the East River, New York.
effect of pH on ionization and charges of amines and carboxylic acid effect of pH on ionization and charges of amines and carboxylic acid
Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ... Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ...
Sketch the graph of the following functions using local maximum/minimums, interc Sketch the graph of the following functions using local maximum/minimums, interc
Video: Effect of blood chemistry - stimuli, hyperventilation response and hypoventilation response

For a complete list of videos, visit our video library