The following is a payoff matrix showing profit in millions of dollars when two companies simultaneously decide on various advertising budgets ($1 million, $2 million, or $3 million): Pizza Hut $1 mill $2 mill $3 mill $1 mill $310 / $415 290 / 420 260 / 390 Papa Johns $2 mill 270 / 410 280 / 405 250 / 380 $3 mill 305 / 395 300 / 400 270 / 375 a. In the first round of strategy elimination (when all three possible budgets are under consideration), which ad budget would the companies exclude

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively