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Suppose that Wal-World and Tarbo are independently deciding whether to implement a new bar code technology. It is less costly for their suppliers to use one system and the following payoff matrix shows the profits per year for each company resulting from the interaction of their strategies.
a. Briefly explain whether Wal-World has a dominant strategy.
b. Briefly explain whether Tarbo has a dominant strategy.
c. Briefly explain whether there is a Nash equilibrium in this game.
The short run is decision making period during which at least one input is considered fixed. The fixed input is generally considered to be some aspect of capital,
For the product shown, assume that the minimum point of each firm's average variable cost curve is at $2. Construct a demand and supply diagram for the product and indicate the equilibrium price and quantity.
Elucidate the nature of Keynesian tax cuts under Kennedy and Supply-Side tax cuts under Reagan.
Compare and contrast the monopolist and the monopolistic firm Monopolistic competition is an inefficient form of organisation. Discuss
Describe three (3) ways we can use macroeconomic analysis, with one (1) original example for each way. Using the real business cycle theory, explain two (2) effects of an adverse technological shock on the labor market and on the output market.
Determining at least two websites or articles to help you answer the following questions about the petroleum industry. It is to be done is précis of the major points of the article or Web site, and to be referenced.
Colin faiths that the number of job offers he will get depends on the number of courses. He concludes from observation that the following figures are typical.
RainAway, Inc., makes polymers used to coat the windshields of car's, planes, and boats-Complete the following table based on the RainAway product's price, output and costs per year:
Explain what would happen to the slope or position of the AD curve in the following circumstances.
Explain how the aggregate expenditure function shifts in response to the changes in each of the following variables:
A company in a perfectly-competitive industry where market price of output prevailing is $50 per unit has a cost function where;
The return to a college degree raise a lot while college enrollment remained steady.
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