Author Question: When the ownership of the different stages of production of a commodity lies with different ... (Read 42 times)

Lobcity · **on:** Jun 30, 2018

When the ownership of the different stages of production of a commodity lies with different individuals, it becomes difficult to take decisions on capacity expansion because of all the following reasons, EXCEPT:
a. differences in attitudes toward risk.
b. differences in motivation.
c. different degrees of risk exposure.
d. different abilities to hedge themselves.

Question 2

Often, when no player has a dominant strategy
A) there is a dominated strategy.
B) there is a chance for circular reasoning.
C) then another player is needed.
D) then there is a competitive market.