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galben [10]
3 years ago
14

Economists have used the ultimatum game and the dictator game in experiments designed to determine whether consumers believe it

is fair for producers to raise the price of a product for which there is excess demand. whether consumers care about fairness when they make decisions. whether consumers understand the rule of equal marginal utility per dollar spent. whether consumers understand the difference between implicit costs and explicit costs.
Business
1 answer:
Kruka [31]3 years ago
6 0

Answer: Option (b) is correct.

Explanation:

Correct option: Whether consumers care about fairness when they make decisions.

The Ultimatum game and the dictator game economists generally used to know the fairness and the economic behavior of the consumers.

The dictator game is a derivative of the ultimatum game.

From these two games it was seen that consumers firstly thinks about their own payoff and split the amount in an unequal ratio.

In the ultimatum game, a sum of money will be given to a person and asked him to split the amount with the other person. If the other person accepts his offer then they both get the decided amount and if the other person rejects his offer then they both get nothing.

This gives us the consumers preferences, economic behavior or whether they care about the fairness or not.

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Answer: by cleaning software from inside

5 0
3 years ago
On gifts 1 – 10, the gift giver receives a net gain from giving gifts. On gifts 11-20, the gift giver receives a net loss from g
alekssr [168]

Answer:

Following are the solution to the given question:

Explanation:

Its information to respond to this query is not enough. A real income or losses shall get into relation to the gross income received by the donor by providing gifts 1 through 10 or net loss earned by the donor through gifts 11 to 20.

8 0
3 years ago
Suppose that Sally J. Society recently lost her job as an underwater welder. In looking for a new​ job, she discovers that the o
Mademuasel [1]

Answer:

D. Structurally unemployed

Explanation:

Structural unemployment is a type of involuntary unemployment. It is when a person cannot get a job because there's no job available that matches the skills the person possesses.

Seasonal unemployment is when Labour is unemployed during particular seasons.

Cyclical unemployment is when unemployment rises when there's a downturn of the economy and falls when there's a boom.

Frictional unemployment occurs when Labour is moving from one job to another.

I hope my answer helps you

3 0
3 years ago
According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social security tax and the 1.5% Medicare
Sunny_sXe [5.5K]

Answer and Explanation:

a. The computation of an employer's payroll taxes is shown below:-

Employer's payroll taxes =  Social Security tax payable + Medicare tax payable + State Unemployment tax payable + Federal Unemployment tax payable

= ($560,000 × 6%) + ($560,000 × 1.5%) + ($60,000 × 0.6%) + ($60,000 × 0.6%)

= $33,600 + $8,400 + $3,240 + $360

= $45,600

b. The Journal entry is shown below:-

Payroll tax expense $ Dr, $45,600    -

     To Social Security tax payable $33,600

     To Medicare tax payable $8,400

     To State Unemployment tax payable $3,240  

    To Federal Unemployment tax payable $360

(Being accrual of payroll taxes is recorded)

5 0
3 years ago
The slope of the budget constraint A. measures the rate at which the consumer can trade one good for another. B. equals the rela
8_murik_8 [283]

Answer:

B. equals the relative price of the two goods.

Explanation:

A budget constraint refers to how much money a person or a company has to spend in any given pair of goods or services, e.g. you have $10 and you want to eat hot dogs and drink Coke.

The slope of the budget constraint refers to the relative price of the two goods or services, e.g. a hot dogs costs $2 and a Coke costs $1.50. The slope of the budget constraint = $1.50 / $2 = 0.75. The slope of a budget constraint is always equal or less than 1, that is why the smallest value is the numerator.

4 0
3 years ago
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