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Q1. Gary has two children, Kevin and Dora. Each one consumes "yummiest" and nothing else. Gary loves both children equally. For example, he is equally happy when Kevin has two yummiest and Dora has three, or when Kevin has three yummiest and Dora has two. But he is happier when their consumption is more equal. Draw Gary's indifference curves. What would they look like if he loved one child more than the other?
Q2. The "dictator game" differs from the ultimatum game only in that person 2 does not have the option to reject person 1's offer (and thus has no strategic role in the game). The "impunity game" differs from the ultimatum game only in that person 1's payoff when person 2 rejects any offer x is c - x, rather than 0. (The game is named for the fact that person 2 is unable to "punish" person 1 for making a low offer.) Find the sub game perfect equilibria of each game.
Explain why dose the profits of firms that buy their inputs in perfectly competitive market and sell their output in imperfectly competitive markets tends to increase when there is excess supply
Explain why do the Average Variable Cost curve and the Average Total Cost curve become closer as the quantity increases.
Explain when prices are set by the sellers and are not determined by negotiation between the buyers and the sellers.
Explain how do acts of intellectual piracy hurt American companies.
What is the opportunity cost of Josephine's trip to the wedding
in which new trainees are paid relatively high starting salaries and are not expected to make substantial contributions to the company until after the program is over.
q.a researcher investigating the uns millennium development goals looks at schooling in lusitania. he takes a sample of
As before pleasing the job, you admit a surprise offer from a competitor. Elucidate how much producer surplus have you earned, if you actually earn $2600 during the month.
The municipal swimming pool charges lower entrance fees to local residents than to non-residents. Conclude that non-residents must have for swimming at the pool than residents.
Can Alpha make a credible threat to punish Beta with a retaliatory price cut
Why might even a well-maintained, profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development.
Illustrate what are your views on free trade versus protecting domestic marketplaces through tariffs also import restrictions.
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