Author Question: Results of the ultimatum game indicate that most people value fairness enough that they will refuse ... (Read 120 times)

tnt_battle

  • Hero Member
  • *****
  • Posts: 556
Results of the ultimatum game indicate that most people value fairness enough that they will refuse to participate in a transaction they consider unfair, even if they are worse off financially as a result.
 
  Indicate whether the statement is true or false

Question 2

Refer to Figure 15-4. What is likely to happen to this monopoly in the long run?
 
  A) It will be regulated by the government because of its excess profits.
  B) New firms will enter the market to eliminate its profits.
  C) It will expand its output to take advantage of economies of scale so as to further increase its profit.
  D) As long as there are entry barriers, this firm will continue to enjoy economic profits.


randomguy133

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

TRUE

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

For a complete list of videos, visit our video library