Figure 17-3

question 338

Multiple Choice

Figure 17-3. Hector and Bart are roommates. On a particular day, their apartment needs to be cleaned. Each person has to decide whether to take part in cleaning. At the end of the day, either the apartment will be completely clean (if one or both roommates take part in cleaning) , or it will remain dirty (if neither roommate cleans) . With happiness measured on a scale of 1 (very unhappy) to 10 (very happy) , the possible outcomes are as follows:
-Refer to Figure 17-3. The possible outcome in which both Hector and Bart clean is analogous to which of the following outcomes of the duopoly game?

• A)The duopolists collude to achieve the monopoly outcome.
• B)The duopolists collude to achieve the monopolistically-competitive outcome.
• C)The outcome is the one that is most preferable for consumers of the duopolists' product.
• D)The outcome is the one that is least preferable for both the duopolists and for the consumers of their product.

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Definitions:

Live Alone

The act or state of residing in a dwelling by oneself without cohabitants.

Majority

The greater part or number; often used to denote the age at which a person gains full legal rights and responsibilities.

White

A racial classification often used to refer to people of European origin, but can also denote purity or absence of color in different contexts.

Marriage Squeeze

A demographic imbalance in which the number of potential brides does not approximately equal the number of potential grooms within a certain population.