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Games, Strategies, and decision making (2nd edition)
A total of 10 players are each choosing a number from (0,1,2,3,4,5,6,7,8). If a player's number equals exactly half of the average of the numbers submitted by the other nine players, then she is paid 100 dollars; otherwise, she is paid 0. Solve for the strategies that survive the iterative deletion of strictly dominated strategies.
A substitute good is a determinant of supply. Government actions, such as price floors and ceilings, can actually reduce employment and raise market inefficiency. In the circular flow model, firms own economic resources, and households buy the manufa..
Choco deliete is a manufacturer of fine chocolates. Its monthly rental expense is $1,000,000. It also has $2 million in fixed labor costs. its marginal costs are $.70 per chocolate bar. If sales fall by 30 percent from 2 million chocolate bars per mo..
Putting utility on the y-axis and wealth on the x-axis, use a graph to show why James would rather have $100 for sure instead of a gamble where he gets $20 20% of the time and $120 the rest of the time.
Illustrate who benefits more from a transaction of the good or service, the buyer or the seller. Generally speaking, why do people enter into trade.
Interpret these results. Is profit per employee much sensitive to industry-specific or firm-specific factors for this sample of giant corporations.
What is regionalism? Use European Union as an example to illustrate the major steps toward regional integration. What major features can you identify for regional integration in Europe. North America and 1'ast Asia? What are the dynamics for regional..
You have a system that contains a special processor for doing floating- point operations. You have determined that 60% of your computations can use the floating-point processor. When a program uses the floating-point processor, the speedup of the flo..
What is the difference between electronic commerce and electronic business according to Becker and Sampson? Briefly compare B2C, B2B, and B2G electronic commerce?
In the Castorian Airline market there are only two firms. Each firm is deciding whether to offer a frequent flyer program.
In a competitive labor market, the equilibrium wage rate and the number of workers employed are determined by labor supply and labor demand. Firms maximize profit where the MRP = MRC and hence hire labor up to this point. What do you think could be t..
This discussion will require some thought. Reread the section on Nash Equilibrium. In all of the market structures except oligopoly, firms identified the level of output at which MR = MC, produced that level of output, and charged a price dictated by..
Analyze these indicators and prepare a 3-4 page report elucidate the expected short-term impacts on firms in any one of the following five industries in terms of product sales.
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