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A Dictator Game is described: “Amanda is the dictator. She has a candy bar that she has to share with her little sister Barbara. (Mother will be angry if she doesn’t share at all). Amanda can share 50-50, or she can keep 90% for herself. Barbara’s only choice is to accept or reject what she is offered.” Draw the game in extensive form. Analyze this game using concepts related to subgame perfect equilibrium. What do experiments teach us about this game?
A motor capable of delivering 200 hp to steel rolling mill drive is being evaluated in a present economy study. The selected motor will only be utilized for one year, and it w
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. G
Explain how each of the following will affect the average fixed cost, average variable cost, average total cost, and marginal cost curves faced by a steel manufacturer.
Government owns the means of production in a socialist economy while individuals own the means of production in a capitalist economy. The government allocates jobs in a social
Recommend at least two (2) strategies an administrator can apply to ensure that the budget is performing according to the established performance indicators. Justify your re
The annual salaries of a employees who work for a company have a mean of $62,250 and a standard deviation of 9,820. The years of experience for the same employees have a mean
A small nation is unable to affect world price. It imports peanuts at the price of $10 per bag. The deman curve is D=400-10P and the supply curve is S=50+5 P. Calculate and gr
How closely does the labor market for the following type of worker approximate a perfectly competitive market? What, if any, are the major imperfections in each market? a. mig
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