Please answer this 6. In the two-college talent-recruiting game, the NCAA enforc
ID: 1120475 • Letter: P
Question
Please answer this 6. In the two-college talent-recruiting game, the NCAA enforcesother school a. the b. the cooperative outcome: recruiting dominance by one or the cooperative outcome: low-cost recruiting by both schools school C. the competitive outcome: recruiting dominance by one or the other school d. the competitive outcome: high-cost recruiting by both schools 7. A sports franchise that engages in inelastic ticket pricing a. must be perfectly competitive b, sets price where marginal revenue 0 8. Suppose a fan pays $60 for a ticket to a baseball game. If this fan personally earns a consumer surplus of $10, what ticket price would he have been willing to pay? a. $60 b. $50 c. $70 d. $10 9. Which of the following is consistent with a dominant income effect? a. a professional sports referee is paid a higher salary and elects to work fewer games per season b. a pro athlete experiences a salary reduction and elects to attend fewer training and c. a pro athlete is paid a higher salary and elects to attend more training and practice d. all of the above practice sessions sessions 10. Inclusive unions a. originated as local guilds of skilled workers in medieval times b. systematically restrict supply in labor markets c. are also known as craft unions d. use collective bargaining to negotiate an above-equilibrium wage The concept of rational ignorance imagines that a. people's information acquisition generates a 100% rate of voter registration and turnout b. people collect all information that can be obtained about all issues c. people collect information about the issues they care most about d. voters can obtain information without cost 11.Explanation / Answer
6. b, in cooperation each firm best response is to recruit at a lower cost
7 .d, inelastic pricing is done by monopolies for marginal revenue greater than 0
8.c, Willingness to Pay = Price paid + consumer Surplus ,= 70
9 .a, Income effect will induce referee to supply lesser number of labour and consume more leisure.