Author Question: In the strategic view of bargaining: a. Bargaining is described by an explicit game b. Insights ... (Read 74 times)

jake · **on:** Jul 1, 2018

In the strategic view of bargaining:
a. Bargaining is described by an explicit game
b. Insights are drawn from how many similar games are played without specifying the strategies
c. We use the fact that bargaining often results in a fifty-fifty split
d. It is important to limit your opponent's disagreement value

Question 2

The marginal rate of technical substitution (RTS) of labor for capital measures:
a. the amount by which capital input can be reduced while holding quantity produced constant when one more unit of labor is used.
b. the amount by which labor input can be reduced while holding quantity produced constant when one more unit of capital is used.
c. the ratio of total labor to total capital.
d. the ratio of total capital to total labor.