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Using one of the payoff matrices shown in your book, show me the Pareto-optimal (collusion) solution and the Nash-Courant (non-collusion) solution. Use the numbers to show the Nash equilibrium.
The economy has a capital share of a half, a saving rate of 24 percent, a depreciation rate of 3 percent, a rate of population growth of 2 percent, and a rate of labor-augmenting technological change of 1 percent. It is in steady state. At what rates..
What factors in technological segment can have significant impact on U.S. restaurant industry? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the indu..
Economists claim that there are several causes of economic inefficiency in medical care. List three basic causes and, for each, describe why it results in economic inefficiency and poor performance in medical markets.
Why are people risk-averse? Use your answer to throw light on the way in which intermediaries can persuade savers to lend their money indirectly to them for a lower average rate of return than they could obtain on their own. How does the degree of co..
In an Edgeworth box economy with goods x, y, and total endowment of each good of 20, draw out in each case the Pareto set for the following various utility functions of each person:
Which of the following is not an explanation for stagflation? Stabilization policies and FED intervention created an inflationary bias over time, which required higer rates of unemploymentto retsrain inflation.
Suppose there are two types of potential borrowers. Half are Type A borrowers who have projects that require an investment of 1 unit. They have equal probability of returning 3 or 0 gross in one year. First, find the equilibrium interest rates on the..
How do investment in technology and investment in capital differ? If banks hold excess reserves whereas before they did not, the money multiplier:
According to the information/decision-making theory:
Market demand for laptop computers is y = 500 - 2p. But the computers are developed by a hardware firm with a cost function c(y) = 10y + 100, & the operating system is developed by a software firm with a cost function of c(y) = 150. Calculate the opt..
The Circular Flow diagram is model of how the economy works. Explain how the model would change if the following events ocurred:Households increase savings.
What is a monopsony? What is free agency? How has free agency eroded the monopolistic power of professional sports teams? Use caution in your economic reasoning and Analysis, and take care in the use of graphical display.
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