In bargaining without impatience, explain how the number of bargaining rounds and who makes the first offer affect the final outcome.

Q: Do you think integrative approach to negotiation is more effective that distributive approach?

A: The distributive approach to negotiation is a competitive strategy, though the integrative approach…

Q: Explain the role that is played by the three decision makers in the economy

A: The firm, the household, and the government are the three basic economic units that carry out…

Q: Define horizontal communication with example ?

A: Communication: It is the medium or the process of sharing information, thought, ideas between two or…

Q: Are there ethical reasons why freedom of contract should not be upheld by the law?

A: When all is said in done, be that as it may, freedom of contract is predominantly unprotected under…

Q: What is transaction cost theory? Examples with scenarios.....

A: Transaction costs are the costs associated with purchasing or selling a product or service.

Q: Enumerate the possible effects of market failure on you, society, and economy.

A: The market failure refers to the inefficient distribution of resources, goods , and services in the…

Q: Suppose the Economics Department has a graduation party for its students but as a final test they…

A: The Pareto set, also known as the contract curve, is a group of points that reflects possible final…

Q: A couple recently got preapproved on a loan for their first house purchase. They are speculating on…

A: Low bid refers to the minimum amount of bid that a buyer can bid. This is possible if a seller is…

Q: Why the contract can lower transaction costs?

A: Transaction costs are the costs associated with purchasing or selling a product or service. The…

Q: In SWOT analysis what are the similarities and differences between strengths and opportunities? What…

A: In SWOT analysis,similarities between strengths and opportunities is that both would have positive…

Q: How does subjective value make "gains from trade" possible?

A: The subjective value can be considered to be as the significance a singular provides for a decent,…

Q: Is the lottery a fair way to allocate economic resources? Discuss, referring to both of the…

A: Shortage of resources can be seen due to its less supply and huge demand for them. There are many…

Q: Jane is interested in buying a car from a used car dealer Her maximum willingness to pay for the car…

A: The gain realized by a producer when he/she is able to sell a good at price that is higher than his…

Q: Trade-offs can always be considered in terms of opportunity costs.  True  False

A: Trade-off implies the exchange of one thing to get another. And the opportunity cost implies the…

Q: Indicate True (T) or False (F) for the following questions, and explain your answer in 50 words "If…

A: International trade is the commercial transactions between countries that take place. Consumer…

Q: How do unanticipated changes affect market players' economic decisions?

A: The anticipated changes in the economy means that, the policy makers would respond to the upcoming…

Q: Which of the following statements best define the nature of a strategic interaction? A) Strategic…

A: Strategic interaction is a wide phrase that refers to a process that aims to involve several…

Q: What is the major function of the middleman? Would peoplebe better off if there were no middlemen?…

A: A middle layer of business is required in certain industries due to regulation, infrastructure, or…

Q: Which of the market structures is the easiest to penetrate and why? Please explain.

A: There are mainly four types of Market Structures. These are Perfect Competition, Monopoly,…

Q: 4

A: Nash Equilibrium: A Nash equilibrium refers to one in which no one can get better without making…

Q: Is communicative action a necessary part of strategic planning? Argue in a four-point.

A: There is no doubt that communicative action is a necessary part of strategic planning. Following are…

Q: Select ONE major political issue (pandemic, trade, environment, or international relations) and…

A: Partisans in politics or the military are entirely dedicated to their cause. This expression…

Q: Is the dynamics of the Law of Contract as per the civil code a myth with relation to a business…

A: The article also summarises the laws governing employment interactions, such as redundancies and…

Q: Choose the best answer from the options below: If you and your friend take turns making decisions…

A: Here, it is given that two friends are making decision by taking turn on which movie to watch and in…

Q: Is the lottery a fair way to allocate economic resources? Discuss, referring to both of the…

A: "Investing in stocks is like gambling in a casino" True, both investing and gambling include some…

Q: The cost of a trade-off is known as the of that decision. a. opportunity cost b. marginal cost C.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: How people Face Trade Off? Give an example of Trade Off. 11 1' CC

A: When we have to give something up in order to get something else, it is known as a trade-off. It…

Q: Can the central-city dilemma be solved?

A: Central City dilemma can be solved.

Q: Joe and Rita each have some milk and cookies (Milk on the horizontal axis). Joe's MRS of cookies…

A: Marginal rate of substitution: It refers to the amount of goods and services which a consumer will…

Q: Jane is interested in buying a car from a used car dealer. Her maximum willingness to pay for the…

A: Jane willingness to pay = $20 thousand  Bo willing to sell at lease he receives $8 thousand…

Q: Discuss how conflict can Manifest itself.

A: The conflict between employees in the workplace is fairly prevalent, even in small businesses. Even…

Q: Public Good Contribution: Three players live in a town, and each can choose to contribute to fund a…

A: Answer-

Q: A move from point B to point A Roberta Y Clothing A Anita X Food Select one: a. would be voluntarily…

A: In the commodity as well as factor market, edgeworth box is used to find out contract curve.

Q: Define fairness and give examples of how it affects behavior in the economy and in the dictator and…

A: The ultimatum game has grown to be a popular instrument in experimental economics. The use of this…

Q: How can an anticipated change affect a market players decision?

A: Anticipating decision of different players in the market and how will they react in a period of time…

Q: Decide what market structure best represents each of the scenarios listed in the table.

A: The market is a place where buyers and sellers come and interact with each other to fulfill their…

Q: The individual production points on each person's production possibilities frontier represent their…

A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…