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Question: Consider the simple poker game we discussed in class and the strategy profile: Player I: folds if holding a black card; folds if holding a red. Player II: bids if holding a black card; bids if holding a red. If we translated the extensive-form representation of the poker game into a strategic form, this strategy profile would be one of the cells in the payoff matrix. What are the players' payoffs to playing the game according to this profile, i.e., what payoffs would we write in the cell of the payoff matrix?
For this first assignment you are to describe 3-4 areas of human action not typically associated with economics and how economics can be used.
adam smith who wrote the wealth of nations is seen as the father of modern economics. prior to writing the wealth of
Suppose the government regulates the prices of beef and chicken and sets them below their market clearing levels. Explain why shortages of these goods will develop and what factors will determine the sizes of the shortages. What will happen to the pr..
Explain how the passages support your opinion. Conclude your critique by summarizing your argument and re-emphasizing your opinion.
Write an equation expressing GDP, or Y, for this economy. Write an equation for private saving, SP. Write and equation for public saving, SG. Write an equation for National Saving, NS, that indicates the all the components of NS
A balanced budget amendment to the Constitution is introduced in Congress every so often. Congress would be required to balance the budget every year.
you will contribute to the industry by publishing an article and sharing with your community of peers. How could the topic of this article apply to your personal or professional life? How could it apply to an organization you have observed?
How can you graphically show an increase in labor supply with a perfectly elastic labor supply curve?
Forecast the data for 2000 again in problem 1 with exponential smoothing with w=0.3 and w=0.7. Compare RMSEs for moving average and exponential smoothing forecasts to answer if this is a better forecast than the moving average?
Evaluate the consequences to a publically traded company when there is a lack of quality within financial accounting and reporting, indicating how these consequences may be minimized.
Using these measures as examples, explain how use of the balanced scorecard can increase the economic value added within the organization.
The firm's long-run total cost is given by and long-run marginal cost is given by LMC = 100 - 20Q + Q2. At what output level does the firm experience economies of scale?
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