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"1. Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt.
Driver B's 1st strategy Driver B's 2nd strategyDriver A's 1st strategy 0,0 -1000, -1000Driver A's 2nd strategy 1000, -1000 0,0
a. Does either player have a dominant strategy? Explain.
b. Is there Nash equilibrium in this game? Explain
c. Why this game is called a cooperative game?
While grading a final exam, an economics professor discovers that two students have virtually identical answers. Illustrate which outcome do you expect.
She is considering quitting her job and going to university full time for four years.
How vegetarians sometimes have trouble making sure they get enough protein in their diets.
The 1st way is simply to utilize the price of the product in the exporter's home marketplace as the fair marketplace value.
South Korea can produce a maximum of 600 million toaster ovens or 900 million tons of rice per year. The U.S. can produce a maximum of 700 million toaster ovens or 1,000 million tons of rice per year.
Explain how does economists distinguish between the absolute and relative sizes of the public debt.
Assume that the firms act independently as in the Cournot model i.e., each firm assumes that the other firm's output will not change.
Assume that health insurance begins to cover hip replacement surgeries that everyone interested in getting a hip replacement has health insurance.
Suppose which equilibrium income is 3200 also the multiplier is 2.38. Equilibrium income would rise to 3400 if planned investment.
Explain how does the bank's Find outing relate to economist's traditional focus on Illustrate what people do, rather than Illustrate what they say they will do.
Will there be significant progress on the poverty front, because of an increase in GDP.
Elucidate how an individual buying a car would prefer a free GPS system to a free leather seat upgrade.
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