Jill and Jack both have two pails that can be used to carry water down from a hill. Each makes only one trip down the hill, and each pail of water can be sold for $4. Carrying the pails of water down requires considerable effort. Both Jill and Jack would be willing to pay $2 each to avoid carrying one pail down the hill, and an additional $3 to avoid carrying a second pail down the hill.
a. If Jack and Jill each must decide whether to carry one or two pails of water down from the top of the hill, how many pails will each child choose to carry?
b. Jill and Jack’s parents are worried that the two children don’t cooperate enough with one another. Suppose they make Jill and Jack share equally their revenues from selling the water. Given that both are self-interested, construct the payoff matrix for the decisions Jill and Jack face regarding the number of pails of water each should carry.
Answers: 2
Another question on Business
Business, 22.06.2019 05:20
Social computing forces companies to deal with customers as opposed to
Answers: 2
Business, 22.06.2019 17:50
On january 1, eastern college received $1,350,000 from its students for the spring semester that it recorded in unearned tuition and fees. the term spans four months beginning on january 2 and the college spreads the revenue evenly over the months of the term. assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on february 28?
Answers: 2
Business, 23.06.2019 00:30
You have been solicited to conduct a performance evaluation for a public organization that has been corrupted over issues of personnel embezzling funds. before actually conducting the evaluation, you—the evaluator—need to know certain specifics to conduct a thorough evaluation. compose a proposal that describes what type of evaluation will be conducted. in the proposal, explain the type of public organization. describe some of the main services, products, and activities the organization provides to the public. describe the size of the problem, who is affected by the problem, how long the problem has been in existence, and how long the evaluation will take. also, describe what the evaluation will assess with respect to organizational leadership. finally, what outcomes do you propose the evaluation will to achieve for the organization?
Answers: 2
Business, 23.06.2019 21:00
True or false: suppose that the hypothetical country of paddyland has a chronic scarcity of rice, its staple grain. this implies that if paddyland has a market economy, rice will be available only for a price.
Answers: 1
You know the right answer?
Jill and Jack both have two pails that can be used to carry water down from a hill. Each makes only...
Questions
Social Studies, 04.01.2020 03:31
Social Studies, 04.01.2020 03:31
Computers and Technology, 04.01.2020 03:31
