this is my last post :( help please Time Remaining: 66 minutes | Back to Assignm
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this is my last post :( help please
Time Remaining: 66 minutes | Back to Assignment Deadline Today at 11:45 PM 1. "It follows that the neoclassical explanation for what ultimately determines income and its distribution in society is remarkable both for what it claims and for what it rules out as a possibility. The claim is that each individual gets back from society a quantum of wealth exactly proportional to what each has contributed to society. This theory of distribution is remarkable for its inherent fairness. It is also remarkable for what it rules out: exploitation." Wolff& Resnick. Contending Economic Theories: Neoclassical, Keynesian, and Marxian (Page 90) Choose from the following list the equation that best summarizes the idea above as it relates to the labor market. A. P1 / P2 = MU1 / MU2 B. w MRPL O D. P=MC Submit Answer Continue without savingExplanation / Answer
2.1) From the above data it is clear that if Player 2 accpets the offer than only both the players get the amount so from neo classical theory theory the player 1 should try to make player 2 accept the offer so that both can be benefitted, From the given options.
option A : To give player 2 10$ to acept is the better choice as both will get 10$ each which is beneficial to both. rather than loosing total amount.
2.2) From the above data it is clear that if Player 2 accpets the offer than only both the players get the amount so from this theory it is clear that player 2 will be the deciding factor thus from the options
option D is correct
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