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demonstrate a seeming peculiarity about mixed strategy Nash equilibria. Consider the following game between the Chicago Bears' oense and the Detroit Lions' defense. Payos are the number of yards advanced (positive yards for Chicago are negative yards for Detroit).ChicagoDetroitrun defense pass defenserun -2,2 5,-5pass 15,-15 1,1
a. Find all pure strategy Nash equilibria, if any. Then nd the mixed-strategy Nash equilibrium of the game.
b. Now suppose that the Bears improve their run game by bringing Mike Ditka1 out of retirement:ChicagoDetroitrun defense pass defenserun -2,2 10,-10pass 15,-15 1,1Find the mixed-strategy Nash equilibrium of the new game.
c. When running the football becomes a more attractive option for the Bears, do they run more often, or pass more often? Can you explain why?
A gradient series is deposited for 15 years in an interest bearing account. The first deposit is $15,000, the annual gradient factor is $1,000. At the end of the 16th year, withdrawals from the account begin with a first sum of $50,000.
A steam boiler is required as part of the design of a new plant. The types of fuel that can be used to ignite the boiler are natural gas, fuel oil, and coal. The cost of installation including all required controls is $40,000 for natural gas.
Germany consumers have $50 in income "their gross domestice product". They spend $35 on consumer goods "$25 on Germany goods and $10 on imports", they save $8, and pay $7 in taxes. The government collects $7 in taxes and spends $10 on locally-made..
A monopoly sells music CDs. It has a constant marginal and average total cost of $20. It faces two groups of potential customers: honest and dishonest people. The dishonest and honest consumers' demand functions are the same,Qh = Qd = 120 - P.
The demand schedule in the first market is Q1=100-0.5P1, where P1 is the price of the product and Q1 is the amount sold in the market. In the seconds market, the demand is Q2=140-P2, where P2 is the price of the product and Q2 is the amount sold i..
Assume that current wind farms produce 2.5 W/m2. Succinctly explain whether you would expect the average power per square meter of wind farms to rise or fall as the production of wind energy expands to, say, 10% of our primary energy consumption...
Suppose that the demand for Federal funds curve is such that the quantity of funds demanded changes by $120 billion for each 1 percent change in the Federal funds interest rate. Also, assume that the current Federal funds rate is at the 3 percent ..
One aspect of obtaining a college education is the prospect of improved future earnings in comparison to non-college graduates. Sharon Shay estimates that a college education has a $28,000 equivalent cost at graduation.
A monopolist sells in two states and practices price discrimination by charging separate prices in each market. The monopolist produces at constant marginal cost MC = 30. Demand in Market 1 is P1 = 100 -Q1. Market 2 demand is P2= 120 - 2Q2.
What is Q if the price level is 120? Suppose that Q in your answer is the full-employment level of output. By how much will Q increase in the short-run if the price level unexpectedly rises from 120 to 132.
the following information concerning production of wheat and cloth in the United States and in the United Kingdom: Labor Hours Required to Produce One Unit United Kingdom United States Wheat 2 ..
Suppose that technophiles are willing to pay $400 now for the latest iphone, but only $300 if they have to wait a year. Normal people are willing to pay $250 and their desire to purchase doesn't vary with time.
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