When Real People Play the Ultimatum Game,starting with $100,what Usually

question 69

Multiple Choice

When real people play the ultimatum game,starting with $100,what usually results

• A)Player A usually proposes giving Player B more than $50.
• B)Player B usually accepts Player A's proposal if Player A proposes giving Player B $30 or $40.
• C)They always split it evenly so each gets $50.
• D)Player B usually rejects Player A's proposal regardless of the amount.

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Definitions:

Equilibrium Price

The market price where the quantity of goods supplied is equal to the quantity of goods demanded.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where demand equals supply.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or commodity.

Gallon

A unit of measurement for volume, primarily used in the United States, equal to 128 fluid ounces, or approximately 3.785 liters.