A. players are better of to act independently
B. monopoly is better than competition
C. people will always cheat
D. players are better off if they co-operate
Related Mcqs:
- Jamil’s friend dies of a sudden heart attack. Jamil rushes to his doctor for an expensive physical examination. This response demonstrates that ?
A. People give too much weight to a small number of vivid observations
B. People easily change their minds when confronted with new information
C. People enjoy going to the doctor
D. People tend to plan ahead and follow through on their plans - Which of the following best demonstrates the problem of moral hazard ?
A. Josephine doesn’t buy health insurance because it is too expensive, and she is healthy
B. A life insurance company forces Enzo to have a medical examination prior to selling him insurance
C. Enzo drives more recklessly after he buys car insurance
D. Fatima chooses to attend a well-respected college - Suppose you find Rs 20. If you choose to use the Rs 20 to go to a football match your opportunity cost of going to the game is ?
A. nothing because you found the money.
B. Rs20 (because you found the money Rs 20 to buy other things) plus the value of your time spent at the game.
C. Rs 20 (because you could have used the Rs 20 to buy other things) plus the value of your time spent at the game plus the cost of the dinner you purchased at the game.
D. Rs20 (because you could have used the Rs20 to buy other ghings)
E. None of these - In Game Theory ?
A. Firms are assumed to act independently
B. Firms are assumed to cooperate with each other
C. Firms collude as part of cartel
D. Firms consider the actions of others before deciding what to do - A model of Game theory of oligopoly is known as the ?
A. Prisoner’s Dilemma
B. Monopoly Cell
C. Jailhouses Sentences
D. Jury Box - In the ultimatum game, what split would be rational for both the person proposing the split and the person who must accept or reject the split ?
A. There is no rational solution
B. 75/25
C. 99/1
D. 1/99
E. 50/50 - Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?
A. The impact on both price and quantity is ambiguous
B. Price will decrease, quantity is ambiguous.
C. price will increase, quantity will decrease
D. price will increase, quantity is ambiguous.
E. Price will increase, quantity will increase - Economists use the term Black Markets for situations where ?
A. goods are sold at prices above legal or official price.
B. buyers and/or sellers are not paying taxes as they should
C. illegal substances are sold
D. transactions are not recorded in the GDP figures. - An increase in income will ?
A. Lead to a movement along the demand curve
B. Shift the supply curve
C. Shift the demand curve
D. Lead to an extension of demand - A public good ?
A. Is provided by the government
B. Is free
C. Has the properties of being non-excludable and non-diminishable
D. Gas external costs
