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Consider a variant of Hotelling's model that captures features of a U.S. presidential election. Voters are divided between two states. State 1 has more electoral college votes than does state 2. The winner is the candidate who obtains the most electoral college votes.
Denote by mi the median favorite position among the citizens of state i, for i = 1,2; assume that m2 < m1. Each of two candidates chooses a single position. Each citizen votes (non-strategically) for the candidate whose position is closest to her favorite position.
The candidate who wins a majority of the votes in a state obtains all the electoral college votes of that state; if for some state the candidates obtain the same number of votes, they each obtain half of the electoral college votes of that state. Find the Nash equilbria of the strategic game that models this situation.
Discuss the impact of the national debt on the American economy. Use principles and concepts you have learned in this macroeconomics class.
Illustrate what would happen to the costs if the growth rate was half as much as expected. This does not need to be a detailed economic analysis.
There are many dairy farmers in the world and also many Starbucks coffeehouses. Why does a Starbucks coffeehouse face a downward-sloping demand curve while a dairy farmer has a horizontal demand curve
Explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities
Town employees occasionally use their own automobiles on official business. The currentreimbursement rate is $.25 per mile. The employees union complains to town manager thatnumerous studies demonstrate
Describe the benefits and drawbacks of dynamic pricing for this particular company.
Assume Congress decides that oil companies are making too much profit and decides to tax oil companies for each gallon of gasoline produced. This would Answer shift the average fixed cost curve down. shift the marginal cost curve up.
What is the impact on domestic prices for agriculture and on the world price b. Suppose a small food-importing country abroad responds to the lowered subsidies by lowering its tariffs on agriculture by the same amount.
How do you explain and predict hospital behaviors if using the utility-maximizing
Utilizing the info above, which country has a comparative advantage in producing cars and which has a comparative advantage in producing trucks.
The spirit of equating marginal cost with marginal revenue is not held by perfectly competitive firms oligopolistic firms or else.
The Federal Reserve Bank controls money supply and interest rates in the US. How good, or bad, a job has it done over the past 2-years?
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