The likelihood of successful collective action:
A. can be lower for large groups.
B. can be higher for large groups.
C. can be lower for small groups.
D. generally does not depend on the size of the group.
A. can be lower for large groups.
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Suppose Adam Einberg pays $100 for a ticket to a new Broadway play and $100 was the maximum price he was willing to pay. On the day of the performance of the play Adam refuses to sell the ticket for $150
How would behavioral economists explain Adam's refusal to sell his ticket? A) Adam's tastes had changed from the time he bought the ticket to the time of the performance of the play. B) Adam's income probably increased between the time he bought the ticket and the day of the play's performance. C) The endowment effect explains Adam's actions. People like Adam seem to value things that they have more than the things they do not have. D) When Adam bought the ticket he was being unrealistic about his future behavior.
What is the benefit to an insurance company of selling health insurance through an employer?
a. High-risk customers are identified and can be charged more. b. Low-risk customers are identified and can be charged less. c. High- and low-risk customers are mixed together into a single group. d. Low-risk customers can opt out of the health insurance plan.
A monopolist's profit is the product of the price charged by it and the quantity of output produced
a. True b. False Indicate whether the statement is true or false
Which of the following countries is a member of the Eurozone?
A) Sweden B) Finland C) Norway D) Switzerland