Explain what factors determine the market supply of US corn. Pick the most appropriate list among the following.
A. the price of corn, the price of inputs going into corn, technology
B. the price of corn, the price of inputs going into corn, technology, and the number of farms growing corn
C. the price of related crops competing for land with corn, the price of inputs going into corn, technology, the number of farms growing corn
D. the price of corn, the price of related crops competing for land with corn, the price of inputs going into corn, technology, and the number of farms growing corn
Ans: D. the price of corn, the price of related crops competing for land with corn, the price of inputs going into corn, technology, and the number of farms growing corn
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In a two-person bargaining situation it is
A) always in the best interests of both players for each player to be as flexible as possible, and to have as many options as possible. B) always in the best interest of the player that moves first to be as flexible as possible, and to have as many options as possible. C) often in the best interest of players to pretend a game is noncooperative when it is not, and vice versa. D) often in the best interest of players to cut off some of their own options in order to make the other player's threats not credible. E) often in the best interest of players to cut off some of their own options in order to make their own threats credible.
In the non-strategic sequential labor negotiation game:
a. The ability to commit to a strategy gives you an advantage b. The ability to commit to a strategy gives your opponent an advantage c. The ability to commit to a strategy is irrelevant d. Players should simply not commit to a strategy to obtain an advantage