Question: 1) Bargaining Suppose Rick is looking for a new assistant for his upcoming adventure to harvest Mega Seeds. Rick estimates that he can earn $4,000

1) Bargaining Suppose Rick is looking for a new assistant for

1) Bargaining Suppose Rick is looking for a new assistant for his upcoming adventure to harvest Mega Seeds. Rick estimates that he can earn $4,000 if he goes alone or $8,000 if he hires Morty. If Morty doesn't take the trip he's stuck at home watching TV with Jerry, which is completely worthless to him. a) What is Rick's threat value? Morty's? b) What might be the wage that Rick offers Morty if he uses the "reasonable solution" bar- gaining outcome? What is each person's payoff? c) What is the least amount Morty would accept to go on the adventure? What is the most Rick would be willing to pay Morty? d) Suppose Rick installs interdimensional cable at home, and now it's worth $3,000 to Morty to stay home and watch The Adventures of Stealy. How does this change the bargaining outcome? Explain why. 1) Bargaining Suppose Rick is looking for a new assistant for his upcoming adventure to harvest Mega Seeds. Rick estimates that he can earn $4,000 if he goes alone or $8,000 if he hires Morty. If Morty doesn't take the trip he's stuck at home watching TV with Jerry, which is completely worthless to him. a) What is Rick's threat value? Morty's? b) What might be the wage that Rick offers Morty if he uses the "reasonable solution" bar- gaining outcome? What is each person's payoff? c) What is the least amount Morty would accept to go on the adventure? What is the most Rick would be willing to pay Morty? d) Suppose Rick installs interdimensional cable at home, and now it's worth $3,000 to Morty to stay home and watch The Adventures of Stealy. How does this change the bargaining outcome? Explain why

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