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You enter a special kind of chess tournament , in which you play one game with each of three opponents, but you get to choose the order in which you play your opponents, knowing the probability of a win against each. You win the tournament if you win two games in a row, and you want to maximize the probability of winning. Show that it is optimal to play the weakest opponent second , and that the order of playing the other two opponents does not matter.
What is the dependent variable? How much you spend for a vacation in U.S dollars. Potentially, what are the independent variables?
Many factors influence a plant's uptake of boron from the soil, but one key factor is soil type. One experiment† compared plant content C of boron, in parts per million, with the amount B, in parts per million, of water-soluble boron in the soil.
What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).
Do you think these costs should be included in GDP?
Plausible relationships among data may reasonably be expected to exist and continue in the absence of known conditions to the contrary.
Jason and Stasis are farmers. Each one owns a 20-acre plot of land. The table below shows amount of barley and alfalfa each farmer can produce on a given acre. Both farmers can choose whether to devote all 20 acre to producing barley, devote all 2..
What are the long-run equilibrium values of output, the real interest rate, consumption, investment, and the price level?
Consider the following four debt securities, which are identical in every characteristic except as noted: W: A corporate bond rated AAA X: A corporate bond rate BBB Y: A corporate bond rated AAA with a shorter time to maturity than bonds W and X Z..
How are the multinomial logic and the ordered probit different? Why are the logit or probit not appropriate models in this circumstance
A firm has standard shaped costs where the minimum of AVC is $15 at a quantity of 9 and the minimum of ATC is $45 at a quantity of 15. The fixed cost is $345. Draw a picture of the MC, ATC, and AVC for this firm specifically labeling the values fo..
Assume that a person's utility function is U(x,y)=x^2y^2 (yielding MRS=y/x) The price of X is $2 and the price of y is $5. Income is $100. What is the optimal choice? If a quantity tax of $0.50 is placed on good x, what is the new optimal choice
Explain the difference between the overall government budget deficit, the current deficit, and the primary current deficit. Why are three deficit concepts needed?
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