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There are one firm and two types (low-ability and high-ability) of workers. The cost of attending a college is $8,000 for a high-ability person and $20,000 for a low-ability person. The value of high and low ability workers for the firm is $50,000 and $30,000 respectively. The proportion of each type in the population is 1/2.Available actions for the firm are:F1: Pay $32,500 regardless of worker's college educationF2: Pay $40,000 for college graduates and $25,000 for those who do not attend a collegeAvailable actions for a low-ability worker are:L1: Attend a collegeL2: Not attend a collegeAvailable actions for a high-ability worker are:H1: Attend a college H2: Not attend a collegea. What is a Nash equilibrium? What is this equilibrium called?b. Suppose one action for the firm (F1) is replaced by Pay $25,000 regardless of worker's college education. What is a Nash equilibrium? What is this equilibrium called?
microeconomic problemmary produces both hats as well as apple piesif mary uses all her resources to produce hats she
How would the law of motion change if the government introduces a 30% tax on all sources of income (wages, capital payments, and profits), and the revenue is used every period to purchase non-durable public goods that have NO impact on total facto..
Elucidate considerations would guide a profit maximizing company in deciding how to allocate its research budget.
chuck michael and hakeem are three retired basketball players. they determine that in madison there is demand for
If the special order is accepted, Immanuel will not incur any selling expense; however, it will incur shipping costs of $0.30 per unit. Total fixed production cost would not be affected by this order. At what selling price per unit should Immanuel..
you are the accountant for the millenium corporation. last year the company purchased a 2500000 coporate jet to be used
Make a seven page PowerPoint document to discuss impact of computers in Industries. In your discussion, include the following
In the United States, managed care is becoming an increasingly popular method of administering healthcare. It influences the clinical behavior of providers, as it combines the payment and delivery of healthcare into a single system, the purpose of..
The U. S. and the World economy is still in a period of slow growth and high unemployment. Soon, we will be in another election year, does the Political Business Cycle still exist?
The EU is an example of a trading bloc that coordinates laws to facilitate trade between member countries.
Explain how the Laws of Supply and Demand are illustrated in this graph. Assume that the government imposes a price floor of $12 in the E-Book market. Explain what would happen in this market.
Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited..
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