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Author Question: Firms exist because of A) incomplete contracts. B) team production. C) the incentive to free ... (Read 95 times)

geoffrey

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on: Jun 30, 2018
Firms exist because of
 A) incomplete contracts.
  B) team production.
  C) the incentive to free ride.
  D) all of these choices.

Question 2

The ____ takes on particular importance because it is a self-enforcing equilibrium. That is, once this equilibrium is established, neither firm has an incentive to move.
 a. socially optimal solution
  b. Nash equilibrium
 c. disequilibrium
 d. payoff matrix


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nekcihc358

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

D

Answer to Question 2

b


geoffrey

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

tkempin

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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