Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Queen Elizabeth has decided to auction off the crown jewels, and there are two bidders: Sultan Hassanal Bolkian of Brunei and Sheikh Zayed Al Nahyan of Abu Dhabi. The auction format is as follows: The Sultan and the Sheikh simultaneously submit a written bid. Exhibiting her well-known quirkiness, the Queen specifies that the Sultan’s bid must be an odd number (in hundreds of millions of English pounds) between 1 and 9 (that is, it must be 1, 3, 5, 7, or 9) and the Sheikh’s bid must be an even number between 2 and 10. The bidder who submits the highest bid wins the jewels and pays a price equal to his bid. The winning bidder’s payoff equals his valuation of the item less the price he pays, while the losing bidder’s payoff is zero. Assume that the Sultan has a valuation of 7 (hundred million pounds) and the Shiekh has a valuation of 8. (a) Write down a game table to describe this auction as a simultaneous-move game between the Sultan and the Sheikh. [5 points] (b) Write down all Nash equilibria for this game.
Suppose you have a demand function given by: Q = 360 ? 2P. What is the price elasticity of demand when the price is P = $20? You will have to use the point elasticity formula.
Use the hypothetical economy data in the table below to answer the following questions. Amount of Real GDP Demand, in Billions Price Level (Price Index) Amount of Real GDP Supplied, in Billions $180 300 $500 260 250 400 300 200 300 420 150 200 560 10..
If sales fall by 20 percent from 1 million papers per month to 800,000 papers per month, what happens to the AFC per paper, the MC per paper, and the minimum amount that you must charge to break even on these cost.
If exports are greater than imports, would this increase or decrease GDP using the expenditure approach? What does this mean? Explain in words and with a graph what will lead to a decrease in the quantity supplied. Be specific.
According to Banerjee and Duflo, poor people make decisions differently than do those who are not poor. In their view, this is the fundamental obstacle to economic development in poor countries. Do you agree or disagree? Explain your answer.
determine the macroeconomic effects of the following macroeconomic event when the economy is initially at less than
q.suppose that a pay equity plan has just been put in place in your organization. the pay equity consulting firm did a
Suppose you bought a concert ticket from Ticketmaster for $50, but when you got to the concert scalpers (individuals who re-sell tickets at the event) were selling tickets in the same seating area as yours for $25. What is probably true?
It is customary for the News media to report about consumer confidence and investor confidence while discussing the national economy. How do you think the confidence of the economic agents affect the economy? From personal or work experience, state f..
A country’s annual growth rates over a 10-year period are shown in the following table. Year Growth Rate 1 5 2 3 3 4 4 -2 5 -3 6 3 7 4 8 5 9 6 10 2 What was the country’s trend rate of growth over this period?
If the government decides to spend an extra $5 billion on fighter jets that they would otherwise have spent on road construction, and the MPC = 0.75, what is the effect on AD?
In a simple regression model (one X variable only), if the t statistic for the slope is 2.5, what is the value of F. State the null and alternative hypothesis for both tests. How important is the assumption of a normal error term in using the t te..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd