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Vaselesa [24]
2 years ago
6

The payoff matrix represents hypothetical profits that could be earned by two milk sellers who have formed a cartel. each seller

must decide whether or not to cheat on the production quotas in the cartel agreement. use the payoff matrix to answer the questions. milky moos cheat do not cheat heifer's gold cheat a $148,000$148,000 $148,000$148,000 b $140,000$140,000 $200,000$200,000 do not cheat c $200,000$200,000 $140,000$140,000 d $150,000$150,000 $150,000$150,000 a. does either member have an incentive to cheat
Business
1 answer:
vazorg [7]2 years ago
8 0

For the statement  "The payoff matrix represents hypothetical profits that could be earned by two milk..." and the Milky Mose table  Both will cheat Option C. This is further explained below.

<h3>What is a payoff matrix?</h3>

Generally, payoff matrix is simply defined as when one player's tactics and those of the other are represented in a table called a payoff matrix, they are listed in rows.

In conclusion, In order to get an edge, both parties will engage in dishonesty. As a result, both parties will be tempted to cheat in order to gain an unfair advantage.

The payoff matrix below represents hypothetical profits that could be earned by two milk sellers who have formed a cartel. Each seller must decide if they want to cheat or not to cheat on the production quotas in the cartel agreement. Use the payoff matrix to answer the questions below. Does either member have an incentive to cheat? Heifer's Gold will cheat, but Milky Moo will not. No, neither has an incentive to cheat, Yes, both will cheat. Milky Moo's will cheat, but Heifer's Gold will not

Read more about payoff matrix

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If credit losses are estimated at 1% of credit sales than balance of allowance for doubtful account after adjustment will be = $6,000 + $1,600,000 * 1%

= $6,000 + $16,000

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Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours (D
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a. $32,000 unfavorable

Explanation:

The computation of the direct labor efficiency variance for October is shown below:-

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= $1,600 × $20

= $32,000 unfavorable

Therefore for computing the direct labor efficiency variance for October we simply applied the above formula.

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3 years ago
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3 years ago
A newspaper reports that the average price of new homes in a certain city had decreased, and the number of new homes sold had al
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2 years ago
Cobe Company has already manufactured 19,000 units of Product A at a cost of $25 per unit. The 19,000 units can be sold at this
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Answer:

Incremental net income from further processing is  $566,600

Explanation:

First of all, it would be necessary to compute profit from selling the product at cut off point and profit when it is further processed in order to determine whether or not it is worth processing further:

Sales revenue                                        $400,000

cost of production(19,000*$25)            $475,000

Loss from selling                                  ($75,000)

Further processing:

sales revenue

Product B(5200*$108)                       $561,600

Product C(11,000*$55)                       $605,000

Total revenue                                     $1,166,600

total cost

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cost of further processing                 ($200,000)

total costs                                           ($675,000)

Profit                                                    $491600

By further processing the incremental net profit is $566,600 ($491,600-(-$75000)

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