Under which one of the following conditions would a lawyer accept a case on a contingent basis?
A) The lawyer is risk averse.
B) The client is risk loving.
C) The lawyer has several cases on a contingent basis with payoffs that are not perfectly positively correlated.
D) The lawyer is more risk averse than the client is.
C
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In the figure above, the number of workers employed is ________, and the wage paid is ________
A) 3,000; $7 per hour B) 7,000; $7 per hour C) 5,000; $5 per hour D) 5,000; $7 per hour E) 3,000; $5 per hour
Cartels tend to break down unless they can obtain government assistance because cartel members will typically try to
A) charge higher prices than the prices agreed upon. B) include sunk costs in their prices. C) lower their costs below the agreed-upon levels. D) sell more than their quotas. E) do all of the above.
Briefly explain the process of multiple deposit creation
What will be an ideal response?
Limits to self-interested payoff maximization that have been studied by behavioral economists include
a. limited cognitive ability. b. limited willpower. c. limits to self interest. d. all of the above.