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As you know, the Economics I exam consisted of 40 Multiple-Choice questions. For every question you solved correctly in the Economics I exam, you now have the opportunity to receive a bonus payment. You can choose between two options according to which you wish to be paid if this decision is randomly chosen for payments:
Option 1:
You will receive 12.5 Cents for each correctly solved question in the exam, independent of the exam performance of other students.
Option 2:
You will receive 50 Cents for each correctly solved question in the exam if you solved more exam questions correctly than three randomly selected other students. You will receive 0 Cents for each correctly solved question in the exam if you solved fewer exam questions correctly than those three randomly selected other students. If there is a tie, the computer randomly selects the best performing student.