In the simultaneous move labor negotiation game:
a. The payoffs are always higher if you accommodate
b. The payoffs are always higher if you bargain hard
c. The payoffs from accommodating are only higher if your opponent bargains hard
d. The payoffs from accommodating are only higher if your opponent accommodates
c
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If the wage rate paid in the fast-food outlets in a small town is greater than the reservation wage of all the teenagers in the town and less than the reservation wage of all the adults, then the fast-food outlets will hire ________
A) mostly adults and a few teenagers B) some adults and some teenagers C) only adults D) only teenagers
When the oil-producing countries of the Middle East meet to set prices and output levels, this is an example of
a. monopoly behavior b. profit sharing c. market distribution d. explicit collusion e. tacit collusion