Your answer might be C , the pay has to be increased cause the hours increased,cant be b because the weekly payrool cant be same,ya feel?
Answer:
A strictly dominant action produces: a higher payoff than any other action the player can use for every possible action of the other players.
Explanation:
A strictly dominant action does not play fair. Here, there is no equality because strict dominance requires all payoffs to be strictly greater.
A strictly dominant strategy is that strategy that always provides greater utility to a the player, no matter what the other player's strategy is.
A rational player will avoid a strictly dominated counterpart because if his opponent uses strictly dominated action he will be come out worse off regardless of which moves other players make.
Answer:
Option (a) is correct.
Explanation:
Here, shoes are normal goods as there is a positive relationship between the income level of the consumer and the quantity demanded for shoes. It can be seen that as the income of the consumer increases from $19,000 to $21,000 then as a result the quantity of pairs of shoes demanded increases from 9 to 11 pairs. Normal goods are generally have positive income elasticity of demand.
Therefore, the shoes are normal goods in this case.
Answer:
Option (b) is correct.
Explanation:
This is a case of monopoly market condition where there is a single firm operating the whole market. The price of the products is set by the single firm and the buyers in this market are price taker. The monopolist can earn normal profit, losses and abnormal profit in the short run and can earn normal profit and abnormal profit in the long run.
In our case, the price of diamonds is high because there is only single firm in the whole market and there is no other competitors in the market. That's why they are charging the higher prices.
Solution:
Barnes Corporation purchased 75 percent of Nobles’ common stock
During the year, Nobles reports net income of $40,000.
Hence, 75% of net income of Nobbles is attributable to Barnes Corporation.
Barnes reports for income from subsidiary prior to consolidation
= 40,000 x 75%
= $30,000
