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A game everyone knows is coin flipping. Suppose that Player 1 flips the coin (and is so skilled that he is able to flip it whichever way he wants) and Player 2 calls heads or tails. The winner gets $10 from the loser. Player 2 (calls) Heads Tails Player 1 (flips) Heads - 10, 10 10, - 10 Tails 10, - 10 - 10, 10 [a.] Does either player have a dominant strategy? If so, which player and what is the dominant strategy. [b.] Is there a Nash equilibrium in this game? Explain. [c.] Games like this are called zero-sum games. Briefly explain why.
Michelle spends all her money on food and clothing. When the price of clothing decreases, she buys more clothing. Does the substitution effect cause her to buy more or less clothing.
Illustrate what marketplace structure did you assume. Would your answers in b change if the marketplace for sewing machines were competitive.
You have decided to buy a small apartment building for $100,000 near a local college. You used $10,000 as a down payment and obtained a mortgage from a local bank for the remaining $90,000. The annual mortgage payment to the bank is $11,500. You expe..
Means-tested college aid, base college aid primarily on
Describe the Product, Price, Place, and Promotion of Porsche. Explain the current situation of the organization in the market (industry, market, and general environment analysis). Describe your recommended organizational structure.
Suppose that a certain country has an MPC of 0.9 and a real GDP of $500 billion. If its investment spending decreases by $8 billion, what will be its new level of real GDP?
There were 13,249 weddings in Springs City last year. According to state records, notaries public performed 17% of the weddings. How many weddings were not performed by notaries public?
You are considering two alternative plant layouts, A1 and A2, to improve its current layout. The cash flows are shown below. The first costs represent the expenses of rearranging the current layout to the alternative new layout and the annual savings..
q1. bmme5103 2 forgone entrepreneurial income to be 10000 a year. she used 500000 in savings that earned 5 percent
At Dulles airport, only taxis and privately owned cars are allowed to use the highway between downtown and the airport. That taxi market is competitive. There is a special lane for taxis so they are always able to travel at 55mph. Suppose P,E and G c..
Compute the price of a bundle containing 100 units of good X, 150 units of good Y, and 25 units of good Z.
Explain how this investment capital is transformed into fixed capital goods, new technology, and cost reduction using new methods of production.
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