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There are 6 tokens on the table. Two players alternate removing some of the tokens. In each move any player can either remove exactly oneor exactly two tokens. Whoever removes the last token is the winner (tokens are worthless per se - it does not matter who removed how many of them).a) Represent this game as a game treeb) Which player is going to win? Find the subgame perfect Nash equilibrium using backward induction. Precisely describe full strategies.
expectations on how rivals will respond are important considerations when a firm decides to change the price it charges its customers, no firm controls more than a 10% share of the market
Now suppose there is another country called Lotech which has not seen the innovations in credit cards and ATMs that Hitech has. If the rate of money growth and the growth rate of real GDP were the same in Hitech and Lotech over this period, then h..
Give a specific example for each ( US Companies ). Which one is better market from the stand point of producers? Which one is better market on the stand point of consumers?
How does the amount of unemployment created by an increase in the minimum wage depend on the elasticity of labor demand do you think an increase in the minimum wage will have a greater unemployment effect in the fast-food industry or in the lawn-c..
What are the individual's budget constraints in periods 1 and 2 and the new lifetime budget constraint and solve for the optimal consumption in both periods.
Explain why the waiter will provide bad service and since you are interested in good service, can you convince the waiter, in a binding/credible manner that you will tip him?
Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
Innovation lagged in the centrally planned economies because: there was too much domestic business competition. there was too much competition from foreign firms. A positive statement is one which is:
Historically, shifts towards a more expansionary monetary policy have often been associated with increases in real output. Is this surprising? why or why not?
Assume that the demand curve is given by the following: p=100 and the supply curve is given by Q=p-25. If the government puts in place a tax of 10 that must be paid by the buyer the deadweight loss that results is equal to:
Despite the empirical evidence to the contrary, college decision-makers often believe that their price elasticity of demand is essentially zero. Is that right How important were price considerations in making your college decision Would a change o..
Monica and her father own one of the three automobile tire stores in the city. No other city is nearby. They want do develop a strategy increase sales and market share in their city. What steps can they take?
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