Andrew Is Employed as a Chief Financial Officer of EasyMoney

question 74

Multiple Choice

Andrew is employed as a chief financial officer of EasyMoney in New York City, for a salary of $200,000 per year on a three-year contract. His employer terminates Andrew with two years left on the contract. Andrew accepts employment as a financial analyst at a different firm that pays $150,000 per year. Which of the following hold true in this scenario?

• A) Andrew cannot take any legal action against his prior employer after accepting another job.
• B) Andrew's prior employer must pay Andrew two years' worth of his previous salary.
• C) Andrew can only sue to receive nominal damages.
• D) Andrew can sue his prior employer and recover $100,000.

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Definitions:

Nash Equilibrium

A concept in game theory where each player's strategy is optimal given the strategies of other players, leading to a situation where no participant can benefit by changing strategies while the others remain constant.

Maximin Strategy

A decision-making strategy used in game theory and economics where the player seeks to maximize their minimum payoff, accounting for the worst-case scenario.

Dominant Strategy

In game theory, a strategy that always results in the most favorable outcome for a player, regardless of what the opposition does.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies while the other players keep their strategies unchanged.