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How did the 1971 law that banned cigarette advertising on television solve the prisoners' dilemma for cigarett producers?
What is the meaing of tit-for-tat in game theory? What conditions are usually required for tit-for-tate strategy to be the best strategy?
United States has absolute advantage over many countries in production of most goods and services. Yet, the country is running the record trade deficit year after year. The current trade deficit is about six percent of the country's GDP. Is it a ..
A company produces digital watches on single production line serviced during one daily shift. The total output of watches depends directly on number of labor hours employed on the line.
Elucidate whether the following statements are positive or normative economic statements, and explain why you categorized them in that way.
In the class, we discussed the Paradox of Thrift argued by John Maynard Keynes. According to the argument, even if many household decide at the same time to increase their saving, the total saving will not increase in the long run, while it leads ..
Imagine that the firm must choose one of three quality levels: z = 1; z=2; and z = 3. Which quality choice will maximize the firm's profit?
If the elasticity of US exports with respect to the real exchange rate is very low, will this increase in private saving have a large or small effect on the U.S. real exchange rate
Illustrate what is the reserve ratio if the bank has $160 million worth of checking deposits, $32 million worth of reserves in deposits at its federal reserve district bank, and $8million worth of reserves in vault cash.
According to a recent article in the Wall Street Journal, side-impact crashes are among the deadliest, accounting for nearly 10,000 deaths per year.
What government officials increase the price of parking ticket from $40 to $50; they are surprised that their revenue actually falls. What happened?
Assume you plan to quit your job in 6 weeks because you have saved enough money to move to California where you can indulge your interest in rock climbing.
You are to be part of a panel of three local person considered to have experience in international business.
Adopt a first-degree price discrimination policy, what prices should you charge to maximize revenues and what are the revenues?
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