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N players are competing for a prize of 20 dollars. Who wins the prize is determined as follows. Each player submits a real number between 0 and 100 simultaneously. A player wins if his number is the closest to 2 of the average of the numbers of all N participants. 3 If two players tie, then they split the prize. If all the participants are rational, what guess will each participant submit?
Suppose that the economy improves and the crime rate in West Philadelphia drops, so that the marginal product and average product of a group of 100 police offers is now 55 arrests per hour for any number of police officers. What is the optimal alloca..
Illustrate what price do you think this firm should charge if it wants to maximize its short-run profit.
The market for grapes is given by the following supply and demand equations: Q = 120 – 15P Q = 20 + 5P a. Identify the demand function and the supply function. b. Compute for the equilibrium P* and Q* (Q*, P*). c. Compute the PED at (Q*,P*) AND the P..
Select a United States of America government investment project and a private investment project in the United States of America. Write about why you understand are the primary differences in the cash flows between both projects.
Why is fiscal policy slow to affect economic growth? Why does monetary work so much quicker to boost the economy than fiscal policy? Why does fiscal policy often contradict monetary policy and often hinders economic growth during recessionary periods..
If the returns of the risky portfolio are normally distributed, what is the probability of returns being less than 29%.
A decrease in the money supply leads to an initial increase but a long-run decrease in the equilibrium interest rate if the _____ effect dominates other effects.
Compute the range of demand for which each location has a cost advantage. Which plant location is best if demand is 30,000 units?
Suppose the current money supply is $10,000. The required reserve ratio is 0.5. The Fed wants to increase the money supply by $1,000.
according to the midpoint formula, the value of price elasticity of demand for Pepsi-Cola.
Suppose that a monopolistic company faces the consumer demand curve. Find out the profit-maximizing quantity of the product.
Why did rising house prices make US retail banks more willing to provide mortgages for low-income earners with poor credit histories?
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