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19. Use the payoff matrix to answer the following question. Player 2 Strategy A B Player...

19. Use the payoff matrix to answer the following question.

Player 2

Strategy

A

B

Player 1

X

53, 58

58, 43

Y

48, 62

50, 55

What is the dominant strategy of player 1?  

Group of answer choices

A

Y

X

B

20. Sometimes a local utility provider charges different customers different amounts per unit based on the amount of the service used. This is an example of _______ price discrimination.

Group of answer choices

second degree

first degree

third degree

21. Assume there is a decrease in equilibrium price and increase in equilibrium quantity. Which one of the following changes would cause this?

Group of answer choices

an increase in supply

a decrease in demand

an increase in demand

a decrease in supply

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