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Disuss the following topics:
1. Types of oligopoly that pertains to the automotive industry
2. The four assumptions that relate to game theory
3. Which types of game theory are applicable to the automotive industry?
4. Type(s) of Nash equilibrium that exist with the sutomotive industry
5. Types of business strategies employed by the automotive industry
6. Does "Cheap Talk" promote good business relationships? Please explain
Since the movie, Avatar, 3-D movies have been popular and charged at a higher price, compared with the traditional 2-D movies. Please analyze the impact of 3-D movies on The price elasticity of demand on 2-D movies? The total revenue of movie theater..
The AD/AS model is useful in predicting the effects of various shocks and policy changes on an economy. The model is based on goods and services being exchanged in well-functioning markets. In general, however, markets are not always perfect. How wou..
Suppose that two people, Mary and John each live alone in an isolated region. They each have the same resources available, and they grow corn and raise pigs.
What are the four categories of human capital typically found in a group of ten workers. For each category, please identify a basic strategy that should be used with each group to maximize effectiveness
Which is true for a purely competitive firm in short run equilibrium?
It is generally expected that an economic downturn will lead to an increase in inflation. Full employment output is defined as the output that can be achieved if everyone in the labor force has a job. According to the Keynesian model, injections will..
Which of the following is example of moral hazard?
Provide examples of businesses taking advantage (profiting from) the recent drive to “go green” (environmental consulting, etc). What are the advantages and disadvantages of going green for a company?
A perfectly competitive constant-cost industry has a large number of potential entrants. Assume that each firm minimizes its LRAC at an output of 20 units and at an average cost of $10/unit. Market demand is given by QD = 1500 – 50P. Draw a graph of ..
Please provide a graphical example and explaination of what could potentially happen to the number of people employed in an economy if the government were to decide to raise the minimum wage from $7.00 to $15.00; in addition, provide an explanation o..
Cookie Monster consumes Ores (good 2, price p2) and homemade chocolate chip cookies that he buys from his mom (good 1, price p1). His utility function is u(x1, x2)=ln(x1+x2)+x1. A backstory for these preferences might be that he cares about total cal..
Why does Robert Reich refer to wealthy people, politicians, lobbyists, and large corporations as "economic bullies"? How do you feel about this issue and its importance to our economy now that you understand it better? What do you feel needs to be do..
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