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a) explain why Nash equilibrium represents a plausible outcome of a game.
b) Suppose that your opponent is not playing her Nash equilibrium strategy. Should you play your Nash equilibrium strategy? why or Why not?
c) Choose from the following the reason or reasons to adopt a Nash equilibrium strategy. Make your choice as complete as possible and support your decision
Even if the other player knows my strategy, she cannot take advantage of that information.
What is the smallest per product unit subsidy that must be paid to the monopolist in order to induce it to produce 7 units of its product?
Label aggregate demand curve as AD and aggregate supply curve as AS. Be sure to label axes appropriately. Identify and describe changes in AS-AD graph above that would result from cost-push inflation.
The production possibilities curves above show all the possible combinations of helicopters and scooters that two towns, Millerville and Jamestown, can create using equal amounts of resources.
Here is a "dynamic technology" question - When it comes to automobile production it is an accepted fact that American automakers did not readily adopt and use Asian and European technologies in the production of cars. The result was a loss of global ..
Suppose the firms compete in quantities. If firm 1 deviates from collusion in one period, what is the profit of firm 1 in that period in subsequent periods.
what will happen to the price level and output? Using the AS/AD model, demonstrate your predictions graphically. what policy might you suggest to the government?
What level of money supply should the central bank set next year if it wants an inflation rate of 4%? What growth rate should the central bank set for the money supply if they want inflation to be steady at 2% per year?
Why would equal-sized falls in aggregate output due to a fall in aggregate demand have different effects on magnitude and duration of unemployment in se two economies.
Assume the market for cough syrup is in equilibrium. Now, suppose the government imposes a price ceiling that is above the original equilibrium price. Illustrate what are the economic effects of the price ceiling?
Explain how much difference can a logo make on two shirts which are otherwise identical. Illustrate what type of market is this.
If the prices of gold and other commodities increases how will this influence the value of rand. Explain how will a depreciation of the rand influence our exports and imports.
Describe why this does not represent a violation of the law of demand. Which of the subsequent best explains illustrate what a forward contract.
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