(See Problem 2

question 24

Multiple Choice

(See Problem 2.) A small community has 40 people, each of whom has a wealth of $3,000. Each individual must choose whether to contribute $400 or $0 to the support of public entertainment for their community. The money value of the benefit that a person gets from this public entertainment is b times the total amount of money contributed by individuals in the community.

• A) This game has a dominant strategy equilibrium in which nobody contributes anything for public entertainment.
• B) If 40b > 1, everybody is better off if all contribute to the public entertainment fund than if nobody contributes, but if 40b < 1, everybody is better off if nobody contributes than if all contribute.
• C) If 40b > 1, there is a dominant strategy equilibrium in which everybody contributes.
• D) Everybody is worse off if all contribute than if nobody contributes if b > 1, but if b < 1, everybody is better off if nobody contributes.
• E) In order for there to be a dominant strategy equilibrium in which all contribute, it must be that b > 40.

Analyze the effects of varying plant sizes on the long-run average cost curve and understand the graphical representations of economies and diseconomies of scale.

Understand the differences between exact and conceptual replications and their importance in research.

Comprehend the role of replications in establishing external validity and the generalization of research findings.

Learn methods to assess issues that may affect the generalization of study results, such as pretesting effects.

---

Definitions:

Truthful

Corresponding to fact or reality; honest and accurate representation without deceit or falsification.

Photographs Lie

A statement reflecting the belief that photographs cannot always be trusted to represent reality accurately, as they can be manipulated or taken out of context.

Cathedral

A bishop’s church. The word derives from cathedra, referring to the bishop’s chair.

Series of Paintings

A collection of artworks created by an artist that are related by theme, style, or subject matter.