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In a two–player, one shot simultaneous – move game each player can choose strategy A or strategy B. If both players choose strategy A, each earns a payoff of $500. If both players choose strategy B, each earns a payoff of $100. If player one chooses strategy A and player two chooses strategy B, then player one earns $0 and player two earns $650. If player one chooses strategy B and player two chooses strategy A, then player one earns $650 and player two earns $0 (i) Write the above games in normal forms (matrix)
What is the elasticity of supply in that range of the supply curve? How much tax revenue does the government collect?
Name a specific event to be expected to cause the equilibrium price of ice cream to increase.
q.marys fence post factory faces a perfectly elastic demand curve for fence posts at a price of 39 per post. let q
describe the current account balance, the capital account balance, and the official settlements account balance.
Assume that initial GDP is $1,000 and we want to expand it to $1,600. Average MPC for the country is 2/3. What should be the new level of government spending if the initial level is $100. Also how much of a tax policy change reach to the same results..
1. if the 4 firm concentration ratio of an industry is 75 what does it mean?2. explain in game theory how payoff
The work by Milton Friedman altered the consensus that had developed in the aftermath of the Great Depression on how the economy should be managed. As a result, the current goal of economic policymakers is to: reduce the magnitude of both downturns a..
two accompanying show supply an demand curves for two substitute commodities: regular cell phone and smartphones. A. Show what happens when rising raw material prices make it costlier to produce regular cell phones
The follow-ing ( multiplicative exponential) demand function is being used: QD = 6,280P. - 2.15A1.05N3.70 where QD = quantity demanded, in 10 oz: boxes P = price per box, in dollars A = advertising expenditures on daytime television, in dollars N = p..
q.suppose we have the following three projects up for vote a naval ship a hospital and a park. there are three
The annual income from a rented home is $24,000. The annual expenses are $6000. If the house can be sold for $245,000 at the end of 10 years, how much could you afford to pay for it now, if you considered 9% to be a suitable rate?
Explain why quality became the most important issue facing American business in the 1980s. In addition to economic competition from Japan, what other factors may have contributed to the importance that quality has assumed?
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