Assume that the characteristic functions for individuals 1,2, and 3 are given by V(1) = $20, V(2) = $16, and V(3) = $10 respectively, and value created by the coalition V(1,2,3) = $60 . If the payoff to individual 1 is $30, and that to individuals 2 and 3 is $15 each, which of the following statements is true?
a. The given allocation is within the core.
b. 2 and 3 will withdraw from the coalition.
c. 2 will block the imputation.
d. This allocation is individually rational for all.
C
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Use the following table to answer the question below. Cloe is given $4 of pocket money to be spent on either hard candies or chocolates. Chocolates cost 40 cents each and hard candies cost 80 cents each. The marginal utilities derived from the consumption of each product are as shown in the following table.Number of ItemsMarginal Utility of ChocolatesMarginal Utility of Hard Candies160150250140340120430100520806107075508020If Cloe buys either chocolates or hard candies one piece at a time, what will be her first two purchases?
A. a chocolate, followed by another chocolate B. a hard candy, followed by another hard candy C. a hard candy, followed by a chocolate D. a chocolate, followed by a hard candy
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A) Total expenditure on women's dress shoes decreases. B) The number of pairs of women's dress shoes demanded decreases by 10.2 percent. C) Total revenue from the sale of women's dress shoes decreases. D) none of the above
If managers minimize costs they have maximized profits
Indicate whether the statement is true or false
When a loan is repaid to a bank, the money supply contracts by the amount of the loan
Indicate whether the statement is true or false