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Considered the following market. Chrome can choose when launching its new product either to do it LARGE or as NICHE. After Chrome has chosen its action, Firefox observes Chrome's choice and then can choose to ADAPT to RETAIN its own product. After Firefox has chosen its action, the game ends and the payoffs are made. The payoffs are as follows. If Chrome chooses LARGE and Firefox ADAPT, the payoffs are 25 and 40 to Chrome and Firefox, respectively. If Chrome goes LARGE and Firefox RETAINS the payoffs are 30 and 50 to Chrome and Firefox. If Chrome plays NICHE and Firefox ADAPTS, the payoffs are (40 Chrome, 30 Firefox) and if Chrome plays NICHE and Firefox RETAINS the payoffs are (20, 20) for Chrome and Firefox, respectively.
Q: Does the subgame perfect equilibrium equilibrium result in the outcome that maximises total surplus? If it is, explain why. If not, is there any way the surplus- maximising outcome can be obtained? Interpret your answer in the context of the Coase Theorem. Why might your solution not work? 2.Two workers (workers 1 and 2) on a production line both have the choice to come to work Late or Early. If both come Late their payoffs are 5 and 4 to worker 1 and 2, respectively. If worker 1 comes Late and worker 2 comes Early the payoffs are 2 to each worker. If worker 1 comes Early and 2 comes Late the payoffs are 1 to each of them. Finally, if both workers come Early the payoffs are 3 to each worker. Q:Draw the normal form of this game and determine all of the Nash equilibria. Do you think this game could represent a true production process?
choose and research a specific business that is publicly traded where there has been a pattern of change in a
How would you use the information you have learned in this class to develop your own investment portfolio What investments would you hold, in what proportions, and why What is your level of risk aversion
What is the profit-maximizing level of output and price for the monopolist? Now suppose that this rm is in a perfectly competitive industry, still facing the same marginal cost curve. (Assume that the average cost curve of this rm always lies below i..
When thinking about the theory of the firm, shirking, and principle-agent problems, we can find analogous situations in our personal lives. Make a Power Point presentation (for sharing with the class) two personal situations to illuminate this con..
Great Recession
The principal-agent problem arises when the interests of owners and workers diverge. because of diminishing marginal returns. when the interests of owners and workers converge. because of the profit incentive.
Assignment: Research two periods in history, one where the United States experienced an increase in inflation and the other an increase in unemployment. Write a paper discussing the causes and outcomes.
a you obtained the following short-run cost information of a firm. when the firm produces 2 units of output its
To provide goods and services society feels desirable, governments often face a choice between equity and efficiency. Efficiency is a situation which a good or service is provided with minimum amount of waste, effort and expense.
1.sam smith owns an internet radio company that has subscribers in houston and dallas. the demand functions for the 2
Evaluate the financial statements and the financial position of health care institutions and describe the overall planning process and the key components of the financial plan.
Calculate the incremental profit electron control would earn by customizing its instruments and marketing directly to end user
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