Which of the following describes a Nash equilibrium?

To an economist, total costs include

In the game shown below, firms 1 and 2 must independently decide whether to charge high or low prices.  Which of the following are Nash equilibrium payoffs in the one-shot game? 

Taco Bell sells its hard shell tacos, taco seasoning, and taco sauce as a package and does not sell the individual products separately. This is an example of ________.

At its current output level, Pretty Flowers Florist has average total costs equal to $8.40 and average variable costs equal to $5.40. What is Pretty Flowers Florist’s average fixed cost at their current output level?

Consider a firm that has just built a plant, which cost $1,000. Each worker costs $5.00 per hour. Based on this information, what is total fixed cost for an output of 1900?  Number of Worker Hours Output Fixed Cost Variable Cost Total Cost 0 0       50 200       100 700       150 1400       200 1650       250 1800       300 1900       350 1975      

Walmart, like many companies, uses a hub-and-spoke distribution system to

Labor, L (workers) Output, Q (units per day) 0 0 1 4 2 9 3 18 4 28 5 35 6 40 7 42 8 43 9 40 10 35 Refer to the table above. When the ________ worker is hired, the firm experiences decreasing marginal returns of labor.

High transaction costs:

Big Truck Hauling Company uses 5 units of capital at $1,000 per unit and employs 10 employees at a cost of $400 each. What is the company’s fixed cost?