Adam and Jon Are the Only Players Playing in a Local

question 68

Multiple Choice

Adam and Jon are the only players playing in a local golf tournament.They can either practice for 5 hours or not practice at all.Practice has both direct monetary costs and opportunity costs.Their scores for an 18-hole round of golf with and without practice are shown in the table.Total prize money is $12,000.Two possible reward structures exist.In Plan A,the low score wins $10,000,second place wins $2000,and a tie results in $6000 each.Plan B requires a player to score 71,or less,for first place,72 to 80 is considered second place.The $10,000 will be split between those with a 71 or lower score,with a guaranteed minimum of $2000.The $2000 for second will be split between those with a score between 72 and 80.
-Refer to the information above.Adopting Plan B as the reward structure results in

• A) both Jon and Adam practicing and both winning $5000.
• B) neither Jon nor Adam practicing and both winning $1000.
• C) Jon practicing,Adam not,and both winning $1000.
• D) Adam practicing,Jon not,and both winning $1000.
• E) both Jon and Adam practicing and both winning $1000.

---

Definitions:

Registration System

A systematic process of recording information or data into an official list or database to ensure its authenticity and reliability.

Intangible Form

Describes assets or benefits that do not have a physical presence, such as intellectual property or goodwill.

Copyright Ownership

The exclusive legal rights given to creators for their original works of authorship, including the right to copy, distribute, and adapt the work.

Independent Contractor

A person working for himself who contracts to provide specific services to another.