62) Repeated games tend to lead to _____ strategies.

trigger

tribal

static

nondominant

66) Assume that a monopolistically competitive firm faces the following situation:P= $22; output = 13,000 units;MC= $16;ATC= $22;AVC= $15; andMR= $16. Which statement BEST describes the firm's situation?

The firm would maximize its profit by increasing its output.

The firm would maximize its profit by decreasing its output.

The firm is minimizing its losses.

The firm is earning a normal profit, indicating that the market is likely in a long-run equilibrium.

67) The effect of television ads has been reduced by technology and the Internet.

False

True

69) Both oligopolies and monopolies are productive efficient.

True

False