Answer:
Check the explanation
Explanation:
a. Gains from being nice = $60
reason: outcome for being nice = $100; outcome for being mean = $40 So the gains from being nice = 100 - 40 = 60
b. Average mean server earnings = $40 (given)
Average nice server earnings = $ 100 (given)
Change in tips per server if all of the servers switch from being mean to being nice = $60 (100 - 40)
c. Individual payoff of my becoming nice = $6
reason: Total number of servers = 10
Change to the tip pool with my change in behavior from mean to nice = $60
My share in this change = 60/ 10 =6
d. 1-I am more likely to be nice when I keep my own tips.
reason: I can keep $100 if I am nice. But in a tip pool, some of the others may be mean. This will bring the pool amount lower, thereby my share may be less than $100. So I prefer to keep my own tips.
Answer:
as the price level fall, the value of money increased.
Explanation:
the impact of deflation on an economy is that its decreases the price level of goods and services but increases the value of currency.
this is seen by the illustration given:
In year 1, A basket cost $9 and $72 can buy 8baskets
In year 2, A basket cost $8 and $72 can buy 8baskets. though the price level as reduces but the value of $1 increases.
For example, Let say, I am buying baskets from Nigerian, provided the values of currency are not constant.
Given, N = naira
@ N1 = $9, = 8 basket is obtained
@N1.125 =$8, = 8 basket is also obtained (becaused value of currency as increased )
Answer: C. Scarcity
The situation is an example of scarcity.
Answer:
It can help you to make your products, services and marketing stand out. You can use this knowledge to create marketing strategies that take advantage of your competitors' weaknesses, and improve your own business performance.
Answer:
The production exhibit both scope economics and scale economics. They are not mutually exclusive.
Explanation:
Looking at the scenario critically, we will clearly see the tendency of a scope economics. Scope economics basically hinges on getting a competitive advantage, essentially because of producing in large quantities and numbers. Riverside Ranger logo T-shirts exhibits this as it produce its products in large numbers, producing 1000 pieces of a particular design in 1 hour.
In same breath, we also have the scale economics exhibited by the organization. Taking a deeper look at the cost representation, we will see that the average cost tend to reduce as the production increases. Thus, an economic of scale is achieved here by leveraging on the mass and swift production style of Riverside Rangers logo T-shirts.
