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Every year, management and labor renegotiate a new employment contract by sending their proposals to an arbitrator who chooses the best proposal (effectively giving one side or the other $1 million). Each side can choose to hire, or not hire, an expensive labor lawyer (at a cost of $200,000) who is effective at preparing the proposal in the best light. If neither hires lawyers or if both hire lawyers, each side can expect to win about half the time. If only one side hires a lawyer, it can expect to win three-quarters of the time. 1. 2. 3. Diagram this simultaneous-move game. What is the Nash equilibrium of the game? Would the sides want to ban lawyers?
Research alternatives to the performance and resource monitoring tools that are part of the Windows OS and provide a comparison, including pros, cons, prices, etc...
What is the steady-state equilibrium dollar value of the capital stock in 2007 and what is the steady-state equilibrium dollar value of total output in 2007?
supply curve is applicable to a nation's economy. Create appropriate diagrams to assist in answering the following questions:
Through its policies and institutions, how has the US influence US long run economic growth? Why might persistently large borrowing by the US government ultimately limit long run economic growth in the future?
Analyze the difference in the labor supply incentive effects of these two programs - what value of hours of work do the two budget constraints intersect?
How many bushels of corn are purchased by consumers and at what price? How many bushels of corn are purchased by the government and at what price? How much does the program cost the government? How much revenue do corn farmers receive.
1. during the early part of the previous decade the federal funds rate was quite low. this is an indication that the
You have done some research and believe that the master's degree will add $6,000 per year to your salary for the next 10 years of your working life, starting at the end of this year. From then on, after the next 10 years, it makes no difference.
Four different building locations have been suggested, of which only one will be selected. See table for detail data. Apply incremental B/C ratio analysis to select the best alternative
If the elasticity of demand for Anchor Steam Beer is -1, what willa 3% increase in its price do to the total dollar amount spenton it each week? (Not the total quantity.)
"Economics is the science which studies human behavior as a relationship between ends & scarce means which have alternative uses" Discuss.
To decrease the federal deficit, government would have to cut back on government buy, transfer payments, or increase taxes. How does the federal deficit affect GDP and multiplier?
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