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1. What are the three common elements of an economic game?
2. What differentiates game theory from singleagent problems?
3. How does the existence of multiple Nash equilibria complicate the solution to an economic game?
4. How can a payoff matrix be used to find a player's optimal strategy?
Explain in terms of the environmental Kuznets curve.
a.) The fixed cost of producing 10 units of output. b.) The variable cost of producing 10 units of output. c.) The total cost of producing 10 units of output. d.) The average fixed cost of producing 10 units of output.
There are experts who disagree with each other and yet have evidence to back up their arguments. How can a clinical practitioner distinguish between good research and bad research?
You need to hire some new employees to staff your start-up venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them: Employee Value Probability What is the expected v..
When the colts won the super bowl the demand for peyton manning's jersey was: P = 210 - 0.002Q with a corresponding marginal revenue of: MR = 210 - 0.0004Q IF the marginal cost of producing a jersey is $10, how much are the trademark licensing rig..
A sales agent is provided a $50 commission in addition to her salary for each new energy-efficient convection oven she sells during a one-month introductory period. Based upon the response to the convection oven when introduced in other geographic..
Assume that a very competitive start-up enters the market in direct competition with the oligopoly you describe initially gaining a 12% market share. Discuss the steps the oligopoly should take to address this new competition.
Suppose that instead of raising the reserve requirement as in part C, the FED sells $150 billion of securities in the open market, including $30 million to a customer of Princeton Bank. What happen to Princeton Bank's balance sheet.
This was a period of rapid industrialization as well as migration into urban areas. What factors do you think might account for this fall in height and how would it affect your evaluation of economic welfare during the period?
What is the rationale for this statement?
Which model of educational attainment better explains these facts (and why)?
(Federal Budget Deficits)Try your hand at balancing the federal budget by trying the National Budget Simulation at UC Berkeley's Center for Community Economic Research at http://www.budgetsim.org/nbs/.
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