A Small Community Has 10 People, Each of Whom Has

question 10

Multiple Choice

A small community has 10 people, each of whom has a wealth of $3,000.Each individual must choose whether to contribute $300 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 .50 times the total amount of money contributed by individuals in the community.

• A)This game has a dominant strategy equilibrium in which all 10 citizens contribute $300 to support public entertainment.
• B)This game has two Nash equilibria, one in which everybody contributes $300 and one in which no-body contributes $300.
• C)This game has no Nash equilibrium in pure strategies, but has a Nash equilibrium in mixed strategies.
• D)This game has a Nash equilibrium in which 5 people contribute $300 and for public entertainment and 5 people contribute nothing.
• E)This game has a dominant strategy equilibrium in which nobody contributes anything for public entertainment.

Recognize the importance of identifying a product or service’s features, advantages, and benefits (FAB).

Gain insights into developing effective marketing and business propositions for both end-users and resellers.

Understand the stages and mental steps in a sales presentation and prospect's buying decision.

Learn strategies for selling products to resellers and the end-users.

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Definitions:

Measurability Conditions

Criteria that determine when revenue can be recognized in the accounting process, ensuring it can be reliably measured.

Percentage-Of-Completion Method

An accounting method used to recognize revenue and expenses of long-term projects proportionally with the degree of completion.

Revenue Recognition

the accounting principle dictating the conditions under which revenue is considered earned and can be recorded in the financial statements.

Contract Price

The agreed-upon price for goods or services that is specified in a contractual agreement.