The national hockey league locked out the hockey players in an effort to negotiate a salary cap with the players' union. a cap would limit the payroll of each team. league officials acknowledged that the teams have brought the problem on themselves by overspending and overpaying some players in an effort to compete for the best players. why would the teams have caused this problem for themselves?
a. they were caught in the logic of the prisoner's dilemma in which each player maximizing his own self-interest leads to an outcome that is worse off for everyone. b. they tried to create a cartel and suffered the consequences of too much collusionc. they tried to create a perfectly competitive market, but failed to do so.

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?