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Author Question: Which of the following is true regarding the game in Scenario 13.5? A) Only Bull Meat has a ... (Read 18 times)

casperchen82

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  • Posts: 540
on: Jul 1, 2018
Which of the following is true regarding the game in Scenario 13.5?
 
  A) Only Bull Meat has a dominant strategy.
  B) Only Deer Meat has a dominant strategy.
  C) Both companies have a dominant strategy: expand West.
  D) Both companies have a dominant strategy: expand South.
  E) Neither company has a dominant strategy.

Question 2

Because of the relationship between a perfectly competitive firm's demand curve and its marginal revenue curve, the profit maximization condition for the firm can be written as
 
  A) P = MR.
  B) P = AVC.
  C) AR = MR.
  D) P = MC.
  E) P = AC.


AmberC1996

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

E

Answer to Question 2

D


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