In the nonstrategic view of bargaining
a. The first-mover usually gains more
b. The second-mover usually gains more
c. The gains are usually split evenly
d. We can say little about how the gains are shared
c
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What are the different steps involved in optimization in differences?
What will be an ideal response?
Torrie is thinking of starting up a small business selling hand-painted wine glasses. She is considering setting up her business as a sole proprietorship. What is one disadvantage to Torrie of setting up her business as a sole proprietorship?
A) As a sole proprietor, Torrie would face unlimited liability. B) As a sole proprietor, Torrie would be subject to significant rules and regulations. C) As a sole proprietor, Torrie would be taxed twice. D) As a sole proprietor, Torrie would not have control of the business.
The total gains from trade within a price system is
A) the area beneath the market demand curve and above the market clearing price plus the area above the market supply curve and beneath the market clearing price. B) the area beneath the market supply curve and above the market clearing price plus the area above the market demand curve and beneath the market clearing price. C) the area beneath the market demand curve and above the market clearing price minus the area beneath the market supply curve and beneath the market clearing price. D) always equal to zero.
Corrective taxes are typically advocated to correct for the effects of
a. positive externalities. b. negative externalities. c. patents. d. All of the above are correct.