A Small Community Has 10 People, Each of Whom Has

question 3

Multiple Choice

A small community has 10 people, each of whom has a wealth of $19,000.Each individual must choose whether to contribute $200 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 .80 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 $200 to support public entertainment.
• B)This game has two Nash equilibria, one in which everybody contributes $200 and one in which nobody contributes $200.
• C)This game has a Nash equilibrium in which 5 people contribute $200 and for public entertainment and 5 people contribute nothing.
• D)This game has no Nash equilibrium in pure strategies, but has a Nash equilibrium in mixed strategies.
• E)This game has a dominant strategy equilibrium in which nobody contributes anything for public entertainment.

Identify societal patterns of inequality based on class, gender, race, and ethnicity.

Comprehend the fundamental relationship between societies and their natural environments.

Evaluate the impact of flat network structures versus traditional bureaucratic structures.

Define the concept and types of formal organizations and their objectives.

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Definitions:

Variable Overhead Spending Variance

The difference between the actual variable overhead costs incurred and the expected costs allotted for the actual level of activity.

Unfavourable

Describes an outcome or condition that is not beneficial or desired, often used in financial contexts to indicate underperformance.

Favourable

A term usually used in finance and accounting to refer to variances or differences that are beneficial to a company's financial health.

Flexible Budget Formula

A budget that adjusts to changes in the volume of activity, helping companies to better manage costs.