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Author Question: Product differentiation plays an important role in perfect competition. Indicate whether the ... (Read 41 times)

Arii_bell

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on: Jun 30, 2018
Product differentiation plays an important role in perfect competition.
  Indicate whether the statement is true or false

Question 2

Assume that the characteristic function of a coalition between three individuals named 1,2, and 3 is V(1,2,3) = 60; while V(1) = 20, V(2) = 16, and V(3) = 10, where V(i) is the value created by individual i. Which of the following allocations will lie within the core?
 a. Payoffs to individuals 1,2, and 3 are 19, 35, and 6 respectively.
  b. Payoffs to individuals 1,2, and 3 are 30, 18, and 12 respectively.
  c. Payoffs to individuals 1,2, and 3 are 32, 20, and 8 respectively.
  d. Payoffs to individuals 1,2, and 3 are 28, 15, and 17 respectively.


Sierray

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Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

B


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