Which of the following is a definition of value added? Revenue received by a firm for its output
a. minus the cost of all the final goods bought
b. plus the cost of all the intermediate goods bought
c. minus the cost of all the intermediate goods bought
d. minus the cost of all interest payments
e. plus the cost of all the final goods bought
C
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The demand for union labor is usually determined by
a. the number of union members. b. the strength of the union. c. the total value of the union labor in the production process. d. market conditions outside the union's direct control.
A defendant believes there is a 40 percent chance that the plaintiff will win $1,000,000 and a 60 percent chance that the plaintiff will lose and be awarded nothing (zero). The plaintiff believes that there is a 60 percent chance that they will win $1,000,000 and a 40 percent chance that they will be awarded nothing (zero). The plaintiff's litigation cost is $100,000 and the defendant's
litigation cost is $400,000. Which of the following statements is true? A) The plaintiff would be will to accept any amount greater than $450,000 to settle. B) There is no economic incentive for either party to settle. C) The defendant would be willing to pay up to $900,000 to settle. D) The defendant would be willing to pay up to $800,000 to settle.