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Nintendo and Sony Playstation are each planning to introduce one new game into the market. Each is considering three different kinds of games: an urban action game like Grand Theft Auto, an adventure game like Tomb Raiders, or a strategy game like SimCity The table shows each firm's profits (Sony's profit first) in millions of dollars.NintendoGrand Theft Tomb Raiders Sim CityGrand Theft 2, 2 7, 3 8, 4Sony Tomb Raiders 3, 10 -3, -3 1, 2Sim City 4, 8 2, 1 -7, -7a. Assuming the firms act independently, find the dominant strategy for both player (if exist), and the (Nash) equilibrium(a). Briefly, explain your answer. Is this game an example of the prisoner's dilemma?b. Nintendo knows for a fact that Sony will not decide on its new project for four months. As CEO of Nintendo, what would you do immediately based on the analysis above?c. If the firms were free to coordinate their decisions, what agreement (and actions) would they take? Explain briefly.
Steady state in a calibration of the US economy in 2000. In this problem, suppose that rate of growth of the work force is n = 0.017 and there is no exogenous technological progress.
Compute the total revenue and total economic profit at each level of output. Compute the pizza shop's marginal costs and marginal revenue level of output. What is the profit maximizing rate of output for pizza shop?
There is a shortage of college basketball and football tickets for some games, and a surplus occurs for other games. Explain why do shortages and surpluses exist for different games.
Citrus Speculation and Forecasting, Inc., has been recruited by a private consortium of orange growers to predict what will happen to the price and output of oranges under the conditions below.
What nation did you choose and why does this county interest you. What are some facts about this country.
Utlizing the aggregate demand and aggregate supply model, draw an economy in a boom.
Government needs to eliminate the gap by changing expenditures. What policy would you suggest.
Elucidate the adjustment that will take place in the catfish farming industry in Louisiana that will result from the implementation of the pollution fee. Use diagrams with "U" shaped cost curves.
Assuming the phone company has to charge the same monthly rental fee and unit price to all its customers, at what level should it set these charges?
In the country A, all wage contracts are indexed to inflation. That is, each month wages are adjusted to reflect increases in cost of living as reflected in changes in price level. Explain answer with aggregate supply and aggregate demand curves.
Elucidate which project should be accepted if the required rate of return for the projects
Illustrate what are the pros and cons of switching to a market for kidneys. Currently, people can volunteer to donate one of their two kidneys, and getting a kidney is dependent upon your need and prognosis and sometimes having a relative who is a..
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