Suppose the two doctors play a one-shot game-which

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Q1. the subsequent table Explain how data for a simple production function Capital (k) Labor(L) total Product(TP) average product
10 0 0
10 1 5
10 2 15
10 3 30
(AP) Marginal product(MP)

from the information in the table, calculate marginal also average products.

graph the three functions put total product on one graph also marginal also average products on another

Q2.Suppose the two doctors play a one-shot game-which is, they interact only once also never Once more. Illustrate what will be the Nash (non-cooperative) equilibrium in this one-shot game?

Reference no: EM1313728

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