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Your professor lost two homework assignments, one which was yours and one which belonged to one of your classmates. Your professor remembers that the grade was the same on both assignments, but doesn't remember what it was. The students know the true grade because they have checked the answer key, and determined which problems they answered correctly and which problems they missed. The professor devises the following plan. Each student can tell the professor a grade between 0 and 100 (integers only). If both students write down the same number, then the professor will take that as the true value, and each student will be assigned that grade. If the students write down different numbers, then the professor takes the lower number to be the true grade (call it TG) and then gives a grade of TG 2 to the student that reported the high grade(because they may have been lying to increase their grade) and a grade of TG+2 to the student that reported the lower grade (because they were being more. a) Assume that players can only choose either 5 or 10 for their grades. Write down the game in the normal form, determine which game this is, and find the Nash equilibrium. b) Assume that players can only choose either 9 or 10 for their grades. Write down the game in the normal form, determine which game this is, and find the Nash equilibrium. c) Now assume that players can choose any integer between (and including) 0 and 100.What is the Nash equilibrium?
Business Processes and Strategy–Process Alignment.
Of the following, three mean the same thing and one means something different. Which option does not mean the same thing as the other three in the context of the basic market model we reviewed in class (and that you learned about in principles of mic..
Briefly explain relationship between market price and a firm's profitability in a perfectly competitive market. How are the Zero profit point and the shutdown point for a firm operating in a perfectly competitive market determined?
How did Samsung’s unveiling of the galaxy S5 affect the demand for the S4? What determinant(s) of demand changed? How did Wal-Mart’s price cut compensate?
Ronnie operates a lawn-care service. On each day, the cost of mowing the first lawn is $10, the cost of mowing the second Lawn is $12, and the cost of mowing the third lawn is $15.
Illustrate what is the difference among the short-run also the long-run for a perfectly competitive firm in terms of costs also profits.
An incoming engineering student (age 18) expects to get a job that pays $53700 per year starting four years from now, and can reasonably expect that that salary will increase at a rate of 3.6% per year throughout his career. If he is planning to reti..
You want to buy a new car and have $5,000 available for a down payment. You can afford a monthly car payment of $400. The maximum length of loan you want to take is 5 years. Your credit rating is not so good and the best car loan you can get is for a..
Evaluate and compare the "vertical restraints" of the two industries / sectors for the purposes of assessing the consequences of these provisions for strategic decision making.
Suppose you have three indivisible assets, A, B and C with internal rates of return 2%, 5% and 10% respectively and initial costs of $1, $4, $5. Suppose you have $8.0 at 1% and can borrow at 9%. What is the incremental cost of funds on asset B?
As defined by the military philosopher Karl von Clausewitz, what is friction in war? Surprises and unexpected variables.
According to the HO theory, the basis for the movement of goods and services (international trade) across national boundaries is the differences in the opportunity costs of production (which translates into differences in the prices of goods and serv..
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