​For the Following Question

question 4

Multiple Choice

​For the following question
Consider a simultaneous move game between a union and a company.If both the parties bargain hard,each would gain nothing.If only one party bargains hard the accommodating party gets a profit of $1 million while the bargaining party gets a $5 million,while if they both accommodate,they each get $3 million.
-​If the Union threatens a strike,what is the firm's best response?

• A)​Bargain hard
• B)Accommodate
• C)Run
• D)​Hide

Understand the significance of social psychology principles in everyday interactions.

Demonstrate knowledge of factors affecting interpersonal attraction and relationships (proximity, similarity).

Illustrate the operation of cognitive biases in social perception (actor-observer bias, self-serving bias).

Explain the concept of social cognition and its role in forming impressions and understanding behavior.

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Definitions:

Probability

The measure of the likelihood that an event will occur, often expressed as a number between 0 and 1.

Failure

The state or condition of not meeting a desirable or intended objective, often used in educational, technical, and personal contexts.

Unfair Die

A die that has been altered or designed in such a way that it does not have an equal chance of landing on each of its faces.

\(X^2\)

A symbol commonly representing the chi-squared statistic, used in statistical tests to evaluate the discrepancies between observed and expected frequencies.