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Two identical firms each have a cost function TC = 2y2 and the market demand for their output is P = -4Q+192
a) Write the "best response" function for each firm.
b) Find the Nash equilibrium in this model
c) Show that if each firm produces 1 fewer units than the result in (b), both firms make more profit. Use this information to construct a normal form game. Explain why this game is a prisoner's dilemma.
What is a balance sheet? What is the accounting equation? Define each term in the accounting equation.
Joshua loans his son, Seth, $100,000 interest-free for five years. Seth uses the money for a down payment on his home. Assume that the applicable federal rate of interest is 5 percent.
Principles of economic analysis, economic institutions, and issues of public policy. Emphasis on direction of production, allocation of resources
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Using the Internet, library, or other resources, research and briefly explain 2-3 methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore.
rajs utility bundles of x and y is given by uxyxya. fill in the table with rajs utilitynbspfor the corresponding
Inflation is a a term that is widely used in economics. What happens when there is an Increases in the rate of inflation
Describe three ways we can use macroeconomic analysis, with one original example for each way. Using the real business cycle theory, explain two effects of an adverse technological shock on the labor market and on the output market.
1) Write a paper analyzing different approaches that might be used by Keynesian theorists and 2) monetary theorists to promote long-run macroeconomic stability.
Calculate the multiplier and the level of equilibrium income and calculating the budget surplus
Identify its comparative advantage and whether it is involved in trade - Identify the country''s type of economy-how its economy is a market, command, or mixed economy.
demand for potatoes is given by qd 109p withq measured in tons. the supply of potatoes is given by qsp2.a
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