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Suppose several friends go out to dinner with the understanding that the bill will be divided equally. The problem is that someone might order something expensive, knowing that part of the cost will be paid by others. To analyze the situation, suppose there are n diners and for simplicity they have the same food preferences. The accompanying table states the price of each of three dishes on the menu and how much each person values it. Value is measured by the maximum amount the person would be willing to pay for the meal. dish value price surplus pasta $21 $14 $7 salmon $26 $21 $5 steak $29 $30 -$1 a) suppose there are two diners. What will they order (at a Nash equilibrium)? b)suppose there are four diners. What will they order (at a Nash equilibrium)?
Elucidate why the boundaries of the firms that group members currently work for are dawn at their current limits, and consider whether there are opportunities to increase the returns generated.
If there are 200 rooms also the operating costs $20,000 plus a cleaning fee of $5 per room per day, compute the profit during the one-week period.
Does either player have a dominant approach Does either have a dominated approach. Explain.
Describe the organizational structure of your selected organization. Evaluate and difference that structure with two different organizational structures.
Based on your answers in a also b, how can you reconcile the president's statement with economics. Can you suggest how his statement could be modified to be consistent with the IS-LM model.
Explain how will this combined tax-transfer policy affect aggregate demand at current prices.
Conclude cost elasticity of demand at each quantity demanded utilizing formula % chg in QD divided by % chg in cost.
hat drug is nearly through clinical trials, and is expected to produce an acceptable return on the investments that have been and will still need to be made in it.
What is maximum amount it would be worth to shareholders to elicit high CEO effort all time rather low CEO effort all time.
Unlike the physical supply chain, inefficiencies characterize the financial supply chains of most companies.
The company rents roller cutters and crimping machines for $16 per hour, and the marginal product of capital is 100 rollers per hour. Illustrate what do you think the previous manager should have done to keep his job.
BUECO5903 BUSINESS ECONOMICS Explain why some people 'lose' from inflation and why do some people 'win' from inflation and how did the classical economists interpret long-run unemployment?
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