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For the following situation, come up with a game (in normal form – the matrix representation we have been using) to describe the situation. Determine the pure strategy Nash equilibria. a. Two gentlemen are engaged in a duel. They each have two choices: shoot straight (to try to kill the other) or duck (to try to avoid being killed). If they both shoot straight, they both die; if they both duck, they live, but both lose some "face". If one ducks and one shoots straight, they both live, but the one who shoots earns "honor" and "respect" from his peers, while the one who ducks loses "face" and is branded a coward. Shooting and living gives a higher reward than ducking and living, regardless of what the other person does.
In equilibrium, with diminishing marginal products, the slope of the PPF is equal to:
q.alices utility is given by x as well as y are goods as well as l is the amount of hours that alice works. alice can
After reading about the Solow growth model, which concludes that continued economic growth requires continual innovation, and Schumpeter’s dynamic growth model, does the combination of these two models provide an adequate model of technological chang..
If you have been offered $137,000 for a job in Los Angeles and $117,000 for a similar job in Dallas, which job gives you the higher purchasing power of the bundle of goods in the price index.
Sam has preferences for consumption goods (C) and time spent on leisure (L). The utility function is u(C,L) = CL. The household also has a home production technology summarized by a production function. How much time will Sam spend in leisure? How ma..
Evaluate whether and to what extent the human failures that led to the disaster can and will be corrected.
The vertical long run AS curve compatible with classical economics implies that AD only determines the price level
An environmental testing company needs to purchase $40,000 worth of equipment 2 years from now. At an interest rate of 20% per year compounded quarterly, the present worth of the equipment is closest to:
Explain how decisions made at the World Trade Organization might affect domestic policy. How might domestic policy affect decisions at the World Trade Organization? Finally, tell how important you think the United States’s participation in the WTO is..
A firm has the production function f(x, y) = x^0.90y^0.80. This firm has
Use Porter’s five forces model to analyze the competitive environment of a country of your choice (pick a product category that you are familiar with). How does a market orientation explain entry into that market? A resource-based view? Why are both ..
q1. in this same country 8of the capital stock depreciates each year. additionally the ecnonmy consumes 60 of
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