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Suppose that each person has playing cards numbered 8 and 6. Playing the 6 "pulls" $6 (from the experimenter's reserve) into one's own earnings, and playing the 8 "pushes" $8 (from the experimenter's reserve) to the other person's earnings. If they both pull the $6, earnings are $6 each. Both would be better off if they played 8, yielding $8 for each. Pulling $6, however, is better from a selfish perspective, regardless of what the other person does. The best outcome from a selfish perspective is to "pull" $6 when the other person "pushes" 8, which yields a total of $14. A Nash equilibrium survives an "announcement test" in that neither would wish they had played a different card given the card played by the other. In this case, the Nash equilibrium is for each to play 6.
Draw the payoff table for this Prisoner's dilemma based on "pulling" 6 and "pushing 8.
q1. what is your thought about tracking the u.s. economy and unemployment and inflation?q2. in 2003 taobao.com launched
In addition categorize the level of elasticity of a product or service of your choice from real life depends on what you know happens to the percentage change in quantity demand when the price changes.
When organizations develop risk management plans, they need to consider the value of the assets being protected and the controls that are needed to mitigate the risks in a cost-effective manner.
q1. the herbivores society is selling mini bbq vegetable burgers for 3.00 each. if each individual student has the
A monopolist has determined that marginal revenue is $2.00 and average cost is $1.75. It has also determined that the lowest sustainable average cost is $1.75. To maximize profit, should the firm lower its price, increase its price, or leave the pric..
Solve for market equilibrium price and quantity. Illustrate your answer with a diagram of market. What are dollar values of consumer and producer surplus.
q.suppose a firms production function is q2kl2-l3and its quantity of capital is fixed at k6 in the short-run.a. find
What output level will the competitive firm choose in order to maximize its profit? What is the price at this output level?
HoosierMaker expects to garner revenue of $9.5 million each year and spend $1.3 million a year in costs, over the next 7 years. What is the future worth of this investment if the companies' rate of return is 16% per year?
What is the unemployment rate among the 500 surveyed people? Consider the following price information: Year 1 Year 2 Cup of coffee $ .50 $1.00 Glass of milk $1.00 $2.00
Illustrate scarcity, choice also prospect cost with the aid of a diagram demonstrating a production possibilities frontier
Compute total revenue, total cost also profit at each quantity. Illustrate what quantity would a profit-maximizing publisher choose. Illustrate what price would it charge.
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