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Author Question: Firms make a profit when they equate marginal revenue with marginal cost. Indicate whether the ... (Read 22 times)

bobypop

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on: Jun 30, 2018
Firms make a profit when they equate marginal revenue with marginal cost.
  Indicate whether the statement is true or false

Question 2

Assume that the characteristic functions for individuals 1,2, and 3 are given by V(1) = 20, V(2) = 16, and V(3) = 10 respectively, and value created by the coalition V(1,2,3) = 60 . If the payoff to individual 1 is 30, and that to individuals 2 and 3 is 15 each, which of the following statements is true?
 a. The given allocation is within the core.
  b. 2 and 3 will withdraw from the coalition.
  c. 2 will block the imputation.
  d. This allocation is individually rational for all.


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sabina576

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

False

Answer to Question 2

C


bobypop

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

AngeliqueG

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Reply 3 on: Yesterday
Wow, this really help

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