When buying a car from a commission salesman you improve your bargaining position by
a. shopping for last year's model when the new model year cars are arriving
b. shopping when the showroom is full of customers
c. shopping when the car lot has few cars left unsold
d. shopping toward the beginning of the month
a
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Adhira buys chocolates and almonds. She has 3 bars of chocolates and 4 bags of almonds. The marginal utility of the third chocolate bar is 18 units of utility and the marginal utility from the fourth bag of almonds is also 18. Is Adhira maximizing her
utility? A) Yes, the marginal utility from the last unit of each good is equal. B) No, she must buy 1 more chocolate bar to equate her quantities of the two goods. C) No, she must cut back to 3 bags of almonds to equate her quantities of the two goods. D) No, without information on her income and the prices of the two goods, we cannot answer the question.
Refer to the payoff matrix below. If each cell has a probability of occurrence of 0.25, what are Camp with Us' expected profits?
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) $8.50
B) $4.25
C) $5.75
D) $7.25