Suppose two companies own adjacent oil fields. under the two fields is a common pool of oil worth $60 million. for each well that is drilled, the company that drills the well incurs a cost of $4 million. each company can drill up to two wells. what is the likely outcome of this game if each company pursues its own self-interest? a. each company drills one well and experiences a profit of $26 million. b. each company drills one well and experiences a profit of $22 million. c. each company drills two wells and experiences a profit of $22 million. d. one company drills two wells and experiences a profit of $32 million; the other company drills one well and experiences a profit of $16 million.

In general, as long as the number of firms that possess a particular valuable resource or capability is less than the number of firms needed to generate perfect competition dynamics in an industry, that resource or capability can be considered and a potential source of competitive advantage.answers: valuablerareinimitableun-substitutable

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.