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Consider the following game between Sony, a manufacturer of video cassette players, and Columbia Pictures, a movie studio. Each firm must decide whether to use the VHS or Beta format - Sony to make video players, Columbia to release its movies for rental or purchase.
Columbia PicturesBeta VHSSony Beta 20, 10 0, 0VHS 0, 0 10, 20
a) Restrict attention to pure strategies. Does either firm have a dominant strategy? What is (are) the Nash equilibrium (equilibria) of this game?
b) Is there a mixed strategy Nash equilibrium in this game? If so, what is it?
Supposed that it costs $400,000 to build the new store and assume that the new store will generate revenues of $450,000. what is the rate of return on this investment.
Delmar Custom Homes (DCH) uses two types of crews on its Long Island, NY, home construction projects. Type A crews consist of master carpenters and skilled carpenters, whereas B crews include skilled carpenters and unskilled labor.
Explain how do you calculate the free market wage rate given the labor supply and demand functions.
If the demand for a domestic currency decreases in a nation using a fixed exchange rate system, what must the central bank do to keep the currency value steady.
A company has two plants with the following marginal cost functions: MC1 = 20 +2Q1, MC2 = 10 +5Q2 Where MC1 is marginal cost in 1st plant,
Illustrate what effect does the current supply and current demand have on this product. Describe how each of the 4 factors contributed to the elasticity of the good.
What are strengthen or weaken the argument that monetary policy should be the primary tool for smoothing the business cycle.
Refer to the above data. If the product price is $95, at its optimal output will the firm realize an economic profit, break even, or incur an economic loss?
Illustrate what are the mistakes made by investors in dealing with foreign exchange investments? Provide examples.
Draw up a payoff matrix to illustrate your strategy and what are the likely implications of this for consumers
Atlantis is a small, isolated island in South Atlantic. The inhabitants increase potatoes and catch fresh fish. The accompanying table shows the maximum yearly output combinations of potatoes and fish that can be produced.
Utilize supply and demand analysis to explain why the equilibrium price of apples will rise and the equilibrium quantity will fall if an excise tax is levied on apples.
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