6. Suppose that 20 students from your economics class each pay $20 to enter a grades- based...
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6. Suppose that 20 students from your economics class each pay $20 to enter a grades-
based contest. This would create a $400 prize pool.
An equal share of the $400 pot is awarded at the end of the term to each contestant who earns an A in the course. If four students earn A’s, they each receive $100. If only one student earns an A, that person gets the entire $400 pot. What economic concept is this contest harnessing in order to encourage participants to learn more?
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Related Book For
Essentials Of Economics
ISBN: 9780393264586
1st Edition
Authors: Dirk Mateer, Lee Coppock, Brian O'Roark
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