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Question: In our discussion of Half the Average, we assumed that everyone is as smart as everyone else when we chose the Nash Equilibrium value between [0,100]. Suppose everyone is not smart. If 10 people are playing this game and 5 are as smart as you are and 2 choose 25, 1 chooses 35 and 1 chooses 50 (including you this adds up to 10), what number should you choose to win the game of Half the Average?
Assume monthly demand for 5-pound bags of potatoes is given by P = 20 - 2 ln Q Assume each bag cost a farmer $2 (including the fixed cost) to produce. Deter- mine the profit maximizing number of bags and price per bag.
In this unit's readings, Huxham and Vangen acknowledge seven common perspectives on the challenges to collaboration. Hansen and Nohria describe four types of obstacles. Select two factors that collaborative partners confront and suggest steps coll..
City enacted a city zoning ordinance that barred outdoor advertising display signs - including billboards - on all public roads within the city limits.
He goes to the local Library and looked at the place where some books were sold. Which would be his consumer surplus in the case he buys it?
The challenge that each country is facing is to ensure that trading is going to influence more production within the domestic economy. In the US, we have a trade deficit, which means that we import more than we export. How do you think the US economy..
The monetary system in any economy facilitates trade and allows people to trade more efficiently, as compared to a barter economy. In the United States, the monetary authority is the Federal Reserve System (also referred to as the Federal Reserve,..
A cable company is considering a new suburban market
A successful physician has invested $800,000 cash in a rental apartment house. If he has a MARR of 10%, how much should he charge for rent per month to recover.
Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units, and $8 and 88 units. Can we conclude that the market demand for X slopes upward
Suppose that you were in business and intended to build a plant to turn out a promising new item-say, a pencil that would last twice as long as the kinds available now. What sorts of developments might discourage you from making this investment..
Natural disasters: Suppose a large earthquake destroys many houses and buildings on the West Coast but fortunately results in little loss of life.
The government must hold a referendum before any public good is produced. B) The government has to facilitate the collective decision making in the production of public goods. C) The government must force the firms to produce all the public goods...
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