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Q. Consider a race between 2 candidates. Whoever spends the most money in their campaign wins the election and gets a utility v >= 3 (v more than equal to 3). They also value campaign funding in terms of dollars spent. Therefore, after spending ci on a campaign, if candidate i is elected, her utility is v-ci, and otherwise, it is simply be -ci. Ties are broken by a supreme court that is unpredictable and selects either candidate with probability 1/2. Both candidates are rich and have budgets B > v, and spend in whole dollars so that ci (0,1,....,v). The candidates simultaneously select ci.a. Are there any pure-strategy Nash equilibria? If so, list them. If not, explain why not.b. Suppose that v = 3, and one mixed strategy equilibrium where each player randomizes among (0,1,2).
Speculate about the behavior that could result from these transactions and propose at least two (2) strategies for dealing with them.
which cumulative expenditures are increased. Raising taxes also government expenditure by the same amount such which cumulative provide is decreased also cumulative demand is increased.
If the proposed textbook receives a favorable review, explain how should the editor revise the probabilities of the various outcomes to take this information into account.
Calculate the marginal product of inputs x1, and x2. What is the ratio fo x1 to x2 required to produce the output in the cheapest way possible?
Illustrate what is the likely bargaining negotiation outcome if the advertisers bargain by telling each newspaper that they're going to reach agreement with the other newspaper.
If 100 % of deficit is financed by sale of securities to federal agencies, illustrate what happens to amount of debt held by public Illustrate what happens to level of gross debt.
Two Processes are under consideration for a certain production. Process A needs acquisition of a new machine which is estimated
BUS499(2011A) Final Exam: - Critically argue whether GDP is a good measure of economic well-being. You are required bring examples and academic references to support your answer.
Describe atleast 4 ways in which a firm can limit a worker's shirking. Ground your answer in an explicit theoretical framework(that you clearly state) that explains worker shirking behaviour.
summarize how the test affected the court proceedings. Submit your paper as a Word document to your instructor. Remember to correctly cite your sources.
Suppose that the authorities had effectively prohibited price-gouging and somehow managed to ensure that their action had no effect on the quantity of ice in the area. What would have been the effect on social welfare?
Assume the Bills have the chance to offer a season ticket that is good for all eight home games, a partial season ticket that is good.
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