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For a game (in the game theoretic sense), we need to specify the players. What else needs to be specified?
What is the difference between a normal-form game and an extensive-form game?
Define in words what a dominant strategy is.
What is a payoff-matrix?
Calculate the ratio of total real government purchases to real GDP, quarterly, from 1947 to 2012. Also, calculate the real interest rate on a quarterly basis as a three-month Treasury bill rate minus the inflation rate. Plot these two variables as a ..
Industry structure is often examine through computing the 4-company Concentration Ratio. Assume you have an industry with 20 firms and the CR is 30 percent.
A simple random sample of size n = 210 is drawn from a population. The sample mean is found to be overbear above x = 20.1, and the sample standard deviation is found to be s= 3.2. Construct a 90 percent confidence interval for the population mean.
What principles and insights from microeconomic theory guide the profit-maximizing monopolist when allocating the firm's total production of baseballs into the two geographically distinct plant facilities?
1. a positive statement is one which isderived by induction. derived by deduction. subjective and is based on
Explain the nature of the externality problem in this scenario.
Discuss perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings. Additionally, how does the proliferation of global trade and competition contribute to markets moving more awa..
Demand-Supply Analysis and the American Revolution a. Before the American Revolution, the British government required that all imports to the colonies from outside the British Empire were first shipped to England (part of the Navigation Acts).
Compute the pre-merger HHI measures for each market. How would a merger affect the market's HHI?
The Social Responsibility of Business Is to Increase its Profits
Suppose the marginal product of labor in the economy is given by MPN = 0.002(16,000 - N), while the supplyof labor is 1000 + 1000w.(a) Find the market-clearing real wage rate and level of employment.(b) What happens to the wage rate and employment if..
All of the following are institutional features that make a central bank independent, except when:
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