Author A accepts a $5,000 advance and a 10% royalty after 5,000 books are sold. Author B foregoes the advance and negotiates for a 15% royalty on all books sold. Author C decides to self publish his book and keep 50% of all sales revenue. In what order of risk aversion (from most to least) would you rank these authors?
A) Author A, Author B, Author C
B) Author A, Author C, Author B
C) Author B, Author A, Author C
D) Author C, Author B, Author A
A
Economics
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Refer to Figure 4-3. If the market price is $2.50, what is the consumer surplus on the third ice cream cone?
A) $0 B) $0.50 C) $1.50 D) $2.50
Economics
A game in economics is defined as
A) something that is shown on ESPN. B) competition in which strategic decision making is integral. C) competition in general. D) an actual strategy chosen by one or more economic agents.
Economics