Question: When a firm is a price taker, changes in its sales quantity have (positive, negative, no, little) effect on the price it can change A

When a firm is a price taker, changes in its sales quantity have (positive, negative, no, little) effect on the price it can change

A consumption bundle is affordable as long as... (it is a point that falls on the 45 degree line, the present discount value of the consumption stream is less than the pdv of the income stream, the amount of the good consumed from year to year does no increase)

The iterative deletion of dominated strategies refers to

Continue removing the weakly dominated strategies until there are no more to remove

Continue removing the dominant strategies until there are no more

Continue removing the best responses until there are none left

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