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Imagine three little girls sitting in a circle, each wearing either a red hat or a white hat (no girl can see the color of her own hat). Suppose that all the hats are red. When the teacher asks if any student can identify the color of her own hat, the answer is always negative, since nobody can see her own hat. But the teacher reveals that there is at least one red hat in the room, a fact which is known to every child (who can see two red hats in the room). Then the teacher asks if any student can identify the color of her own hat, and no one can. The teacher asks a second time if any student can identify the color of her own hat, and no one can. The teacher asks a third and last time if any student can identify the color of her own hat, and each little girl answers "red." Describe the reasoning that has led each little girl to the answer.
Hotelling’s Model (10pts) Consider the Hotelling’s model with three players, each chooses a policy position on the real line. Is all three players choosing xm (the ideal policy of the median voter) a Nash equilibrium? Explain your answer.
q.how would you estimate the additional dollar cost of each additional salesperson?based on your companys past sales
State and Local Governments in this country use sales taxes as means of generating revenue. In other countries, a value added tax (VAT) is used to generate Government revenue. Please explain the difference. In your opinion, which tax system is most e..
From the items below that will no longer be needed, which one is most likely to result in the most costs savings?
Examine the following variables that could affect the price of oil: Tax credits were offered for expenditures on home insulation. Choose any two of the above variables, and describe how your selections would affect oil prices based on the supply and ..
What do you call a listing of various quantities of a particular product supplied at all possible prices in the market?
Illustrate why are second hand goods not included in the value of national income.
Is it possible that both goods are normal? That both are inferior? That good 1 is normal? That good 1 is inferior? That one of these goods is inferior and the other normal?
Aerospace contractor have four employees whose combine salaries through the end of this year are$250000. if the contractor expects to give an average raise of 5% each year, calculate the present worth of the employees' salaries over the next 5 years...
The Occupational Safety and Health Administration promulgates safety and health standards. These standards typically apply to machinery (capital), which is required to be equipped with guards, shields, and the like. An alternative to these standards ..
A business traveler to Germany who, upon deplaning in Berlin, uses an airport ATM to withdraw 100 Euros from her U.S. bank would receive which kind of exchange rate?
Describe the general characteristics of oligopolies. Describe the economic characteristics unique to the airlines
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