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Ultimatimum Game
You are given an offer to split a $20 bill. The other player offers you $1. If you accept the offer you keep the $1, and the other player keeps $19. If you reject the offer, neither of you will get anything. Do you take the offer?
Complete the following table by computing the marginal utility per dollar for successive units of X, Y, and Z to one or two decimal places.
Elucidate tools are used to accomplish conscious fiscal policy.
Compute point price elasticity of demand for this product.
Which of the following is the best example of a monopolistic competitor? Firms in a monopolistically competitive industry produce:
Explain how could the advertising be employed to allow KinderCare to keep price above average cost without encouraging the entry.
If I have to lay-off 19 employees as the company is upside down -$1878.00 after total cost. So, by cutting staff of 19 with a salary of $100 per day, an eight hr day, how much will I save.
GDP per capita in a nation like Switzerland can have a low GDP per capita also still have a high standard of living.
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers.
Draw a current budget constraint for an assumed single mother (net of child care costs) who loves leisure. Draw the new constraint. Discuss the likely effects on labor force participation and hours of work.
What elasticity of demand did the Village Administrator seem to assume here in his prediction for 1970- 1971? Compute the approximate elasticity of demand (round off, two decimal places is close enough).
Illustrate what is the size of the labor force. What is the official unemployment rate.
Cartels are a form of anti-cooperative activity. Critically examine the factors that may facilitate the establishment, operation and detection of cartels.
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