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John is willing to pay as much as $5,000 for a fishing boat. Jim is willing to sell it for no less than $1,000. Use
John is willing to pay as much as $5,000 for a fishing boat. Jim is willing to sell it for no less than $1,000. Use your understanding of Nash bargaining and the price formula shown in class (the one that involves the weight, x, attached to the buyer's surplus (in this case $5,000-P) to identify the most accurate statement from the options below. Group of answer choices If x is greater than 0.5 then the negotiated price will be closer to $5,000 than $1,000. the negotiated price does not depend on the value of x. If x is greater than 0.5 then the negotiated price will be closer to $1,000 than $5,000. If x is negative then the negotiated price will be closer to $5,000 than $1,000
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