Actually voting costs each one unit of utility

Assignment Help Business Economics
Reference no: EM131236928

Mr. and Mrs. Ward typically vote oppositely in elections and so their votes “cancel each other out.” They each gain two units of utility from a vote for their positions (and lose two units of utility from a vote against their positions). However, the bother of actually voting costs each one unit of utility. Diagram a game in which they choose whether to vote or not to vote.

Reference no: EM131236928

Questions Cloud

Compute the prices that the monopolist charges : Suppose a company could produce a high and low qua... Suppose a company could produce a high and low quality good. Each consumer can buy a high quality good (with quality exogenously given as s2), a low-quality good (with quality s1), or no good. Ass..
Local monopoly estimates elasticity of demand : A manager of a local monopoly estimates elasticity of demand for its product is constant and equal to -2 Marginal cost is constant at 15 per unit. A. express marginal revenue as a function of price B. Determine the profit maximizing price.
How are the BRIC economies alike : How are the BRIC economies alike? How are they different? Describe the process of Chinese reforms from their beginning in 1978 up until China’s accession to the WTO. What were the factors that led to economic reform in India? Why did economic reform ..
Provides tax deductions for mortgage interest paid : The U.S. Internal Revenue Service (IRS) provides tax deductions for mortgage interest paid on both new and used homes by homeowners across the country. What incentive does this give to U.S. residents? What might happen to home values if the deduction..
Actually voting costs each one unit of utility : Mr. and Mrs. Ward typically vote oppositely in elections and so their votes “cancel each other out.” They each gain two units of utility from a vote for their positions (and lose two units of utility from a vote against their positions). However, the..
Purpose in writing autobiography : What is Rousseau's purpose in writing an autobiography? Why is truth-telling so important to him ? What does Rousseau consider best about himself, what does he praise himself for or feel good about? What does Rousseau consider worst about himself: wh..
Best describes the concept of scarcity : Which of the following best describes the concept of scarcity? Which of the following best describes the opportunity cost of one year of college? Which of the following can be a valid goal for a typical firm?
Find the firms profit-maximizing price and output : Suppose the manufacturer of running shoes has collected the following quantitative information. Demand for the boys’ shoe is estimated to be Q 9,600 200P, or, equivalently, P 48 Q/200. The shoe’s direct cost is C $60,000 .0025Q2. Check that these dem..
Two international conventions that protect the environment : The Stockholm Declaration and the Kyoto Protocol are two international conventions that protect the environment. However, individual countries are responsible for enforcing the regulations of each convention. Is this an effective method? Why or why n..

Reviews

Write a Review

Business Economics Questions & Answers

  Describe the value of having a will or a trust

This is a business law question there is now select subject for business law so I chose economic Miller, R. (2013). Fundamentals of Business Law: Describe the value of having a will or a trust.

  Qsmith and jones are stranded on a desert island each has

q.smith and jones are stranded on a desert island. each has in his possession some slices of ham h and cheese c. smith

  Characteristics of property rights

All of the following are characteristics of "property rights" EXCEPT that:

  Bonds to pay for improvements

A city near chicago sold $9000000 in bonds to pay for improvements to an airport. It set up a sinking fund with end-of-quarters payments in an account earning 8% compounded quarterly. Find the amount that should be deposited in this fund each quarter..

  Economic growth and public policy

Suppose Yamahonda, a Japanese-owned motorcycle manufacturer, builds a production plant in Alabama. This is an example of foreign______ investment in the United States.

  Use a payoff matrix to model problem

Suppose Nike and Adidas spend enormous sums of money every year to promote their athletic wear, hoping to steal customers from each other. Furthermore, assume each year they have to decide whether or not they should spend more money on advertising. I..

  Opponents of the minimum wage point out that minimum wage

Opponents of the minimum wage point out that the minimum wage:

  What is the shadow price of the output

Assume that a competitive market has an upward-sloping supply curve and a downwardsloping demand curve, both of which are linear. A tax of $0.10 per unit is currently imposed in the market. Suppose that with the tax the equilibrium quantity is 70,000..

  Consider solows model when the production function

Consider Solow's model when the production function is Y = 1000K0.3 L0.7 . The population growth rate is 2%, ? = 0.1 is the depreciation rate and s = 0.25 is the savings rate. Suppose this economy was in its steady state when unexpectedly Total Facto..

  The market price of tilapia

If the market price of tilapia is $1.60 per pound but the government will not allow tilapia farmers to charge more than $1.20 per pound of tilapia, which of the following will happen?

  More borrowing by firms in the domestic currency

More borrowing by firms in the domestic currency is one way to reduce currency mismatch. What would be the major issue if government insured repayment of the loans at a low cost?

  General equilibrium-contract curve for initial allocation

Bert has an initial endowment of 10 units of food and 10 units of clothing. Ernie’s initial endowment consists of 10 units of food and 20 units of clothing. Represent these initial endowments in an Edge worth Box. Describe the set of allocations that..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd