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- What is the dead-weight loss? Question 7 options: None of the other answers is correct The loss in welfare due to the monopoly producing a SMALLER amount than a competitive market would The loss in welfare due to the monopoly producing a LARGER amount than a competitive market would A new weight loss system :)as an avid advocate for the adoption of ethical codes in sport, provide a description of Russia doping violationmultiple choice it would make no sense for an individual seller in perfect competitions to sell at a price lower than the market price because: 1- the seller can sell any quantity she wants at the prevailing market price 2- quantity demanded of the product would exceed the quantity supplied 3-the sellers would start a price war 4- demand is perfectly inelastic
- Discounts and incentives are demand options. True FalseNetwork externalities are present when the usefulness of a product A. increases with the number of consumers who use it. B. increases because there is no market failure. C. decreases because it is consumed publicly. D. increases with the endowment effect. E. increases because there are no switching costs. Click to select your answer and then click Check Answer.A new entrant, Bargain Airways, cuts air fares between Eastwich and Westwich by 20 percent. Biggie Airlines, which has been operating on this route, responds by cutting fares by 35 percent. What does Biggie hope to achieve?
- What might happen if a car dealership is awarded a bonus by the manufacturer for selling a certain number of its cars monthly, but the dealership is just short of that quota near the end of the month? Group of answer choices It may sell the remaining cars at huge discounts to hit the quota. It creates an incentive to sell cars from different manufacturers. It would ruin the relationship between dealer and manufacturer. It will be tougher to bargain for potential buyers. buying power at the dealer. None of the above will occur.A local sports fan who cares little about performance in the regular season, and focuses only on championship results would likely measure competitive balance with what?For theater tickets, the demand curve for students is QS=100−4PQS=100−4P and for the general public is QGP=200−4PQGP=200−4P. Graph demand for students, the general public, and the market. (Hint: Don’t forget the kink.) What is the equation(s) for market demand?
- The owner of the Jets is going to offer a contract to a free agent player, Hapoleon. If signed, Hapoleon can give the Jets high effort or low effort. High effort costs Hapoleon $2 million and low effort costs Hapoleon nothing. The Jets’ owner cannot observe Hapoleon’s effort directly.Hapoleon has a guaranteed offer of $10 million from another team, the Sharks. If Hapoleon signs with the Jets, the team can be profitable or not and the Jets’ owner can observe that.If Hapoleon gives high effort, then the probability the Jets are profitable is 80 percent, but if Hapoleon gives low effort, then the probability the Jets are profitable is 40 percent.Hapoleon is the typical risk neutral player and his utility is given by u w() = w . a. If effort were observable, describe the contingent contract the Jets’ owner should offer Hapoleon.As already stated, effort is not observable. The Jets’ owner is optimistic that he can sign Hapoleon. b.Calculate Hapoleon’s expected payoff if he signs with the…The owner of the Jets is going to offer a contract to a free agent player, Hapoleon. If signed, Hapoleon can give the Jets high effort or low effort. High effort costs Hapoleon $2 million and low effort costs Hapoleon nothing. The Jets’ owner cannot observe Hapoleon’s effort directly. Hapoleon has a guaranteed offer of $10 million from another team, the Sharks. If Hapoleon signs with the Jets, the team can be profitable or not and the Jets’ owner can observe that. If Hapoleon gives high effort, then the probability the Jets are profitable is 80 percent, but if Hapoleon gives low effort, then the probability the Jets are profitable is 40 percent. Hapoleon is the typical risk neutral player and his utility is given by u w() = w . Calculate the optimal wage levels, wH and wL , that the Jets’ owner should offer Hapoleon to get him to sign with the Jets and give high effort if Hapoleon’s disutility from high effort increases to $3 million. Determine the optimal wage levels, wH and wL ,…The owner of the Jets is going to offer a contract to a free agent player, Hapoleon. If signed, Hapoleon can give the Jets high effort or low effort. High effort costs Hapoleon $2 million and low effort costs Hapoleon nothing. The Jets’ owner cannot observe Hapoleon’s effort directly. Hapoleon has a guaranteed offer of $10 million from another team, the Sharks. If Hapoleon signs with the Jets, the team can be profitable or not and the Jets’ owner can observe that. If Hapoleon gives high effort, then the probability the Jets are profitable is 80 percent, but if Hapoleon gives low effort, then the probability the Jets are profitable is 40 percent. Hapoleon is the typical risk neutral player and his utility is given by u w() = w . Calculate the optimal wage levels, wH and wL , that the Jets’ owner should offer Hapoleon to get him to sign with the Jets and give high effort if Hapoleon’s disutility from high effort increases to $3 million. Determine the optimal wage levels, wH and wL ,…