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In the core of cooperative games, the total cost of forming a coalition is shared by all members in a coalition (efficiency). However for my problem I only require that all members are individually rational in the coalition - that is, if the utility of at least one member of the coalition is less than the utility he would gain by being alone, then he will break away from the coalition.
In other words, what is the solution concept that only requires stability and does not carry the notion of efficiency?
Illustrate what the assignment should include. The bureau of labor statistics reported that in the second quarter of 2008 the working age population.
After school one day, the teacher discovers this student beating up another student and has to break up the fight. The teacher has turned to you as the vice principal in charge of discipline. Using the theories you have learned this week what do y..
If between 2003 and 2013 the economy's real gdp grew from 20 million to 40 billion, what was the average annual growth rate in the economy?
Calculate the price elasticities of demand in each market and discuss these in relation to the prices to be charged in each market.
A young physician makes $250,000 per year with an annual salary increase of 2%. He is interested in buying a house. He has $130,000 in his savings account. The appraisal value for the house is $600,000. After exhaustive shopping for a mortgage, a ban..
Which of the subsequent industries is most such asly to be monopolistically competitive. A normative economic statement such as "The minimum income should be abolished".
Evaluate the impact globalization on domestic governance. Identity and explicate at least three significant factors requiring domestic changes.
You are paying $30,000/yr for your four year college degree. You could be earning $20,000/yr if you worked instead. After graduation you will earn an immediate $30,000 signing bonus and $40,000/yr for 6 years and then you retire. Is your education a ..
Cole has $27 that he plans to spend purchasing 5 units of good X (priced at $3 per unit) and 6 units of good Y (priced at $2 per unit). The marginal utility of the fifth unit of X is 30, and the marginal utility of the sixth unit of Y is 30.
the first automobiles were built in 1901, they were manufactured by skilled workers using hand tools. Later, in 1913, Henry Ford introduced the moving assembly line, which lowered costs and speeded production.
Which of the following was responsible for slower economic growth before the Industrial Revolution? There was no instance of technological innovation.
Quantify cost savings associated with a cost-effective abatement allocation that could be achieved through trading. Illustrate what price must each tradable permit be set to achieve cost-effective solution.
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