In a bargaining solution, a player's net surplus is
A) the amount of total surplus minus any deadweight loss.
B) the difference between what the player receives in the final bargain minus what she would have gotten from the disagreement point.
C) the amount of consumer surplus she receives minus any deadweight loss.
D) always maximized.
B
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Suppose the quantity demanded is 5 units when the price is $1.00. If the price rises to $2.00, the quantity demanded falls to 3 units. The price elasticity of demand is
A) 0.5. B) 0.75. C) 1.33. D) 2.00.
If the interest rate increases, then the:
a. economy will move to a new point along the existing consumption function. b. consumption function will shift up. c. consumption function will shift down. d. investment demand curve will shift up. e. economy will move to a new point along the existing investment demand curve.
From the Industrial Revolution to the present, innovation has played a major role in the growth of output. What do the leading analysts of economic growth argue were some of the most significant innovations of this period?
If a consumer is initially at an optimum, and then the price of Y falls, then
A. MUx/Px > MUy/Py B. MUx/MUy > Py/Px C. MUx/Px = MUy/Py D. MUx/Px < MUy/Py