Imagine three little girls sitting in a circle

Assignment Help Business Economics
Reference no: EM131112333

Imagine three little girls sitting in a circle, each wearing either a red hat or a white hat (no girl can see the color of her own hat). Suppose that all the hats are red. When the teacher asks if any student can identify the color of her own hat, the answer is always negative, since nobody can see her own hat. But the teacher reveals that there is at least one red hat in the room, a fact which is known to every child (who can see two red hats in the room). Then the teacher asks if any student can identify the color of her own hat, and no one can. The teacher asks a second time if any student can identify the color of her own hat, and no one can. The teacher asks a third and last time if any student can identify the color of her own hat, and each little girl answers ldquo red. rdquo Describe the reasoning that has led each little girl to the answer. 

Reference no: EM131112333

Questions Cloud

If government increases expenditure without raising taxes : If government increases expenditure without raising taxes, this will:
Sequence with the manufacturer deciding the whole sale price : Here we have two important players: manufacturer (Hyundai, whose strategy is the wholesale price w) and retailer (car dealer, whose strategy is the retail price p). Moreover, they move in a sequence with the manufacturer deciding the whole sale price..
Regions rate the importance of quality of top management : Why do analysts in the US and Europe pay more attention to corporate governance? How do analysts in different regions rate tthe importance of the quality of top management? If you were a CEO of a listed company in Asia, what are the top three areas t..
Compare two methods of monopoly regulation : Compare two methods of monopoly regulation. Discuss the pros and cons of two monopoly regulation methods and evaluate their effectiveness: Which regulation method is the most effective? Why? Which regulation method fits and exemplifies the two regula..
Imagine three little girls sitting in a circle : Imagine three little girls sitting in a circle, each wearing either a red hat or a white hat (no girl can see the color of her own hat). Suppose that all the hats are red. When the teacher asks if any student can identify the color of her own hat, th..
Which each can play either of two strategies-leave or stay : Alice and Betsy are playing a game in which each can play either of two strategies, leave or stay. If both play the strategy leave, then each gets a payoff of $300. If both play the strategy stay, then each gets a payoff of $600. If one plays stay an..
The government policy is to deduct : Jeff is a single father with 1 child. He can work as a bagger at the local grocery store for $6 per hour up to 1,200 hours per year. He is eligible for welfare, and if he does not earn any income, he will receive $15,000 a year. If Jeff works, the go..
Monopoly-perfectly competitive-monopolistically competitive : Firms like Papa John’s, Domino’s, and Pizza Hut sell pizza and other products that are differentiated in nature. While numerous pizza chains exist in most locations, the differentiated nature of these firms’ products permits them to charge prices abo..

Reviews

Write a Review

Business Economics Questions & Answers

  How much to promotion in order to maximize sales

A manager has been allotted $8000 to spend on the development and promotion of a new product. It is estimated that if x thousand dollars are spent on development and y thousand dollars on promotion, approximately f(x,y)=91x^(1/2)*y^(3/2) units of the..

  Explain how the estimate would be obtained from the model

A publisher is considering launching a new magazine for women in the 18–25 years age group. It is thought to be vital to the long-term success of the magazine that its sales should reach break-even point within its first year. Sketch out the key feat..

  What are influence of changes in policies

Illustrate what are influence of following changes in policies on private saving and national saving. New policy: Increase in government purchases by $100 and taxes by $80. (MPC=0.7) Estimate amount of changes.

  Construct a single income-leisure

Steve Slacker is age 25, has an MBA degree, but is not working. Instead he is living at a major ski area, using the $2,000 per week he gets from his wealthy family. Construct a single income-leisure choice graph to show Steve’s situation before and a..

  How will planned investment spending change

How will planned investment spending change as the following events occur? The interest rate increases as a result of Federal Reserve policy.

  Two goods can be produced-light bulbs and wires

Suppose that in DanLand two goods can be produced: light bulbs and wires. It takes 3 hours to make a light bulb in DanLand and 4 hours to make a wire in DanLand. In YouLand two goods can be produced: light bulbs and wires. It takes 6 hours to make a ..

  Perhaps the most important step when developing forecasted

The AFN equation produces more accurate forecasts than the forecasted financial statement method, especially if fixed assets are lumpy, economies of scale exist, or if excess capacity exists.

  Action in response to the oil price increase

both the short run and the long run assuming that the government takes no action in response to the oil price increase.

  Which industry is the most concentrated

MERGERS AND PUBLIC POLICY Calculate the Herfindahl-Hirschman Index (HHI) for each of the following industries. Which industry is the most concentrated?

  Law of variable proportions

What is the difference between a production function and an quant. Explain the law of variable proportions with the help of quant.

  Find the optimal capital and labor inputs

Find the optimal capital and labor inputs given the production function f (k, l) = ak + bl and that the output price is given by p, the rental price of capital is r and w is the wage.

  Saveumoney tax services-how many tax returns

SaveUmoney Tax Services (STS) is a small operation that offers tax services to individuals and small businesses. A local marketing consultant has estimated the weekly demand for STS's services as follows: Q = 1200 - 6 P + 25 A where: Q = the number o..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd