Which of the following is correct? II only I and III III only I only I, II and I
ID: 1128693 • Letter: W
Question
Which of the following is correct?
II only
I and III
III only
I only
I, II and III
UESTION 3
A feature of bargaining problems is that they:
I. include a complete description of the players’ payoffs from a successful negotiation.
II. include a complete description of the players’ payoffs from an unsuccessful negotiation.
III. determine how the gains from trade will be distributed between buyer and seller.
Which of the following is correct?
a.II only
b.I and III
c.III only
d.I only
e.I, II and III
Explanation / Answer
The correct answer is: d) I only
Reason: In case of bargaining problems, there is a successful negotiation between the buyers and sellers and it generally include a complete description of the player's payoffs from the trade.
Thanks!
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