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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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A company had a choice between Project X and Project Y. The net present value of Project X is $1,000,000, and the net present va
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Answer:

The opportunity cost of that decision is - $250,000

Explanation:

For computing the opportunity cost, we have to use the formula of opportunity cost which is shown below:

= Return of project which is not chosen - the return of a chosen project

= $750,000 - $1,000,000

= - $250,000

Since in the question, it is given that the chosen project is X so we write the project X amount in the formula and the not chosen project of-course is Y.

Hence, the opportunity cost of that decision is - $250,000

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4 years ago
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Explanation:

it is a document given by the supplier,which contains

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Employee wellness program

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Based on the offerings, Connor has introduced an employee wellness program by making available a set of communications, activities, and facilities designed to change health-related behaviors in ways that reduce health risks and subsequent medical costs.

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It is important to expand the span of control because

  • the workforce is better educated at all levels.
  • organizations save by reducing the number of middle managers.

<h3>What is a span of control?</h3>

Span of control simply means a key element in the structure of an organization.

In this case, it is vital to expand the span of control because the workforce is better educated at all levels and organizations save by reducing the number of middle managers.

Learn more about span of control on:

brainly.com/question/26102029

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