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Think of a time when you were involved in strategic decision making. This could be a business situation or a personal situation. It could be anything from buying inputs for a producing company, to dividing up household chores, to deciding whether we should we punt or go for the first down or kick a field goal?
a. Discuss your dominant strategy for the situation.b. What was the other personâ??s dominant strategy?c. What was your unique solution?d. Were you happy with the outcome?e. If someone was unhappy with the outcome,what dominant strategy should have been.
Please answer each part of the questions and use game theory terminology. Make sure that you have an adversarial situation with at least two parties.
Dell Computer Corporation, the world's biggest personal computer maker, is keenly aware of everything its rival PC manufacturers decide to do.
Pratt or Julian Barbeque is a small restaruant in Columbia, Missouri. They employ 4-part time employees earning $48 per day.
Two months before, the landlord of a car dealership significantly changed his sales manager's compensation plan. Under the old plan, the manager was paid a salary of $6000 every month
Mr. Smith, has fallen behind on his work, he has asked you to help to make a letter for a local business or economic project.
Using the data in the following table, Complete the last two columns by replacing the * with the correct values and create the following curves in one chart.
A company cost curves are listed in the following table. Assume market price is $30. calculate the firm's Total Variable Cost, Average Variable Cost.
The Taylor Mountain Uranium Corporation currently has yearly cash revenues of $1,200,000 and yearly cash expenses of $700,000.
Business Week, in an article dealing with management, wrote, "When he took over furniture factory three years ago. Realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap.
In 1989, Detroit Free Press and Detroit Daily News obtained authorization to combine under a special exemption from the antitrust laws.
Make some research on a topic known to economists as 'friction-free' or 'low-friction' economy. Early writers on this topic foresaw many of the seismic shifts that have occurred in the market place over last one to 2-decades.
Suppose ZCorp has following short run production function Q = 50X - 2X^2 where X is the only variable input used by ZCorp to product its product, Q.
For each policy or event given below, please indicate if it will increase (+), decrease (-), or it is uncertain (+/-) how it will affect the economic variable on right-hand side.
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