Business, 02.10.2019 02:10 zmeister

At ultrinsic, students pay a small entry fee to compete in grades-based contests for cash prizes. suppose that 10 students from your economics class each pay $10 to enter a grades-based contest. this would create a $100 prize pool. an equal share of the $100 pot is awarded at the end of the term to each contestant who earns an a in the course. if four students earn a’s, each receives $25. if only one student earns an a, that person gets the entire $100 pot. what economic concept does ultrinsic use to encourage participants to learn more and get better grades?

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