Alpha and Beta are the only firms selling perogies in Pittsburgh. Each firm must decide on whether to offer a discount to students to compete for customers. If one firm offers a discount but the other does not, then the firm that offers the discount will increase its profit. The table shows the payoff matrix for this game.Does Alpha have a dominant strategy and if so, what is it?

A single-price monopoly can sell 2 units for $8.50 per unit. In order to sell 3 units, the price must be $8.00 per unit. The marginal revenue from selling the third unit is  

The demand curve for an individual seller’s product in perfect competition is  

Figure 18-1On the graph, L represents the quantity of labor and Q represents the quantity of output per week. Refer to Figure 18-1. Suppose the firm sells its output for $25 per unit, and it pays each of its workers $1,000 per week. Also, the firm’s non-labor costs are fixed and they amount to $2,000. The firm maximizes profit by hiring

 In perfect competition,  

  The figure above shows a perfectly competitive firm. If the market price is $40 per unit, then the firm produces ________ units and makes an economic profit that is ________.

The above figure shows a firm’s cost curves and its marginal revenue curve. The price for the shutdown point is  

Jungle Camping offers overnight camping in tree houses built on its 35-acre property. Workers are hired to build and maintain the tree houses. Which of the following are true statements?i.    The land and the trees grown are considered natural resources.ii.   The demand for trees and land is not a derived demand because supply is limited.iii.  The demand for workers is considered a derived demand because they help produce the service of tree house camping.

Which of the following shift the supply of labor curve leftward?i.    an advancement in technologyii.   a decrease in the price of the product that the labor producesiii.  a decrease in the adult population

Figure 16-3This figure depicts a situation in a monopolistically competitive market.   Refer to Figure 16-3. What is the profit-maximizing price, quantity, and resulting profit?