Consider the same ultimatum game as in the previous questions but consider yet new preferences reflecting envy. In particular, now assume players get 1 util per dollar earned. That is all for the player who earns at least as much as the other. The player who earns strictly less than the other loses 1 util for each dollar difference. Which of the following is an offer that arises in a
subgame-perfect equilibrium with these preferences?
a. 1.
b. 2.
c. 4.
d. 5.
c
Economics
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The above figure shows a labor market with a minimum wage of $8 an hour. How many people are employed when the minimum wage is in place?
A) 40,000 B) 60,000 C) 80,000 D) fewer than 40,000 E) more than 80,000
Economics
In long-run monopolistic competition, firms earn zero economic profit
Indicate whether the statement is true or false
Economics