Which of the Following Is an Experiment Which Tests Whether

question 57

Multiple Choice

Which of the following is an experiment which tests whether fairness is important in consumer decision making?

• A)the fair trade principle
• B)the ultimatum game
• C)the preferential treatment game
• D)the behavioral experiment

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Definitions:

Percentage

A ratio or fraction out of 100 that is used to express how large one quantity is relative to another quantity.

Marginal Rate

The rate of increase in a variable (e.g., tax rate, substitution, technical substitution) as another variable (e.g., income, quantity of another good) increases incrementally.

Increase

An upward movement in quantity, value, or some other measure, indicating growth or accumulation.

Income Taxed

A government levy on individual or corporate income.