In perfect competition, ________
A) there are restrictions on entry into the market
B) firms in the market have advantages over firms that plan to enter the market
C) only firms know their competitors' prices
D) there are many firms that sell identical products
D
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Jeremy is thinking of starting up a small business selling NASCAR memorabilia. He is considering setting up his business as a corporation. What is one advantage to Jeremy of setting up his business as a corporation?
A) By setting up the business as a corporation, Jeremy would have both ownership and control over the business. B) By setting up the business as a corporation, Jeremy would not face double taxation. C) By setting up the business as a corporation, Jeremy would have the ability to share risk with shareholders. D) All of the above would be advantages of setting up his business as a corporation.
Consider a version of the ultimatum game in which player A makes an integer offer {1,2 …,9} to player B. If B accepts, he or she gets that amount of money and A gets to keep the remainder of $10 . If B rejects, both get nothing. Which of the following is an offer that arises in a subgame-perfect equilibrium assuming players only care about monetary payoffs?
a. 1. b. 2. c. 4. d. 5.