In an episode of the sitcom Seinfeld, Jerry and his friends Elaine and George are waiting to
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a. What factors should they consider when they are deciding how high to make their bribe?
b. Jerry, Elaine, and George had tickets for a movie after dinner. How would this have affected the amount that they were willing to pay as a bribe?
c. The amount that they finally decide to pay is higher than the value of the meal that they would have had. Does this mean that they are being irrational?
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a They should consider the opportunity cost of the tim...View the full answer
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