Bill and Bev are playing the ultimatum game, starting with $50 . A coin flip results in Bev being the one to propose a division of the $50 . If Bev acts as economic theory assumes, she should propose that
a. she gets $30 and Bill gets $20.
b. she gets $25 and Bill gets $25.
c. she gets $24 and Bill gets $26.
d. she gets $49 and Bill gets $1.
d
Economics
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Aggregate demand refers to the
A) quantity demanded of all goods and services at various price levels, ceteris paribus. B) quantity demanded of all goods and services at a particular price level, ceteris paribus. C) quantity demanded of Real GDP at various price levels, ceteris paribus. D) various amounts of GDP that are demanded at various price levels, ceteris paribus. E) a and c
Economics
The profit-maximizing level for all firms, regardless of industry structure, is the output level where
A) TR = MC. B) P = MC. C) ATC = P. D) MC = MR.
Economics