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Considered the following market. Chrome can choose when launching its new product either to do it LARGE or as NICHE. After Chrome has chosen its action, Firefox observes Chrome's choice and then can choose to ADAPT to RETAIN its own product. After Firefox has chosen its action, the game ends and the payoffs are made. The payoffs are as follows. If Chrome chooses LARGE and Firefox ADAPT, the payoffs are 25 and 40 to Chrome and Firefox, respectively. If Chrome goes LARGE and Firefox RETAINS the payoffs are 30 and 50 to Chrome and Firefox. If Chrome plays NICHE and Firefox ADAPTS, the payoffs are (40 Chrome, 30 Firefox) and if Chrome plays NICHE and Firefox RETAINS the payoffs are (20, 20) for Chrome and Firefox, respectively.
Q: Does the subgame perfect equilibrium equilibrium result in the outcome that maximises total surplus? If it is, explain why. If not, is there any way the surplus- maximising outcome can be obtained? Interpret your answer in the context of the Coase Theorem. Why might your solution not work? 2.Two workers (workers 1 and 2) on a production line both have the choice to come to work Late or Early. If both come Late their payoffs are 5 and 4 to worker 1 and 2, respectively. If worker 1 comes Late and worker 2 comes Early the payoffs are 2 to each worker. If worker 1 comes Early and 2 comes Late the payoffs are 1 to each of them. Finally, if both workers come Early the payoffs are 3 to each worker. Q:Draw the normal form of this game and determine all of the Nash equilibria. Do you think this game could represent a true production process?
In the long run, inflationary andrecessionary gaps are self-correcting because, eventually. nominalwages rise and fall in order to close an inflationary or arecessionary gap thegovernment applies the right combination of fiscal and monetarypolicies t..
Determine the equilibrium market price and the equilibrium market output level and determine the individual's firm's level of profit. Profit = TR - TC
n firms choose prices simultaneously in each period. nbspthe discount factor is delta per period. nbspsuppose firms try
Describe the process by which the competitive market establishes a price at which all firms are just earning normal profits.
You want to be part of the Green Revolution and are looking to find ways to reduce your energy use. But first, you must know what your energy use is.
The most prominent benefit offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $30 per hour and in addition received health benefits at the rate of $6 per hour.
Find the change in the equilibrium level of output when there is a $10 increase in net export spending and the MPC =0.50, 0.75, and 0.80.
Given Y*=5000 and Y=5300. 1.) Compute the output gap for this economy. 2) Is the economy experiencing a recessionary or an expansion arty gap? Why?
The federal government is planning a hydroelectic project cor a river basin. In addition to producing electric power, this project will provide flood control, irrigation, and recreational benefits. Find the benefit-cost ratio for each alternative.
Why does google care weather people think it is large or small? Do highway billboards actually provide competition for Google. Briefly explain. Please state wheather the actual demand were a)to the right or to the left the where the company thou..
a betty has no savings but she can borrow at r .05. what is the maximum that betty would be willing to pay for an
be sure to explain your answers completely and show you read each article and thought about what it said.question1
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