A Block of Wood Half as Dense as Water Floats

question 47

Multiple Choice

A block of wood half as dense as water floats with half its volume above water. A piece of iron is then tied on top so the wood floats with only 1/4 its volume above the surface. If the wood and iron
Are turned over so that the iron is submerged beneath the wood, then the volume of wood above the water surface will be

• A) the same, 1/4.
• B) more than 1/4.
• C) less than 1/4.
• D) There's no way to say.

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Definitions:

Strategic Game

A concept in game theory in which players are aware of the strategies of other participants and are making decisions based on predicting the actions of others.

Extensive Form

A way of representing a game in game theory that illustrates the sequence of moves, the knowledge of each player at different points, and their possible strategies.

Herfindahl Index

A measure of market concentration to assess the level of competition, calculated by squaring each firm's market share and then summing the total.

Market Shares

The portion of a market controlled by a particular company, often expressed as a percentage of total sales in the industry.