-The Above Figure Depicts the Edgeworth Box for Two Individuals,Al

question 1

Multiple Choice

-The above figure depicts the Edgeworth box for two individuals,Al and Bruce.If the endowment is at point a,and trade is possible,which of the following points are possible equilibria?

• A) a and b
• B) a and c
• C) b and d
• D) c and d

---

Definitions:

Perceived Inequity

The feeling or perception that one's rewards or outcomes are not fair in comparison to others' rewards or outcomes, leading to feelings of injustice.

Quantity

A measurable amount or the total number of units of a product, material, or substance.

Quality Of Work

The degree to which a task or project is executed with excellence, precision, and effectiveness, meeting or exceeding standards.

Expectancy Theory

A motivational theory that suggests an individual's motivation is an outcome of how much an individual wants a reward (Valence), the assessment that the likelihood that the effort will lead to expected performance (Expectancy) and the belief that the performance will lead to a reward (Instrumentality).