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Inductive effect
Find the best response functions and the mixed strategies Nash Equilibrium if each player randomizes over his actions.
Discuss MO theory in detail?
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
Reasons for International Trade?
The question states that a hotel charges $60 a night for a room per night during off peak. This hotel has a fixed cost of $75 per night and variable costs of $40 per night (only ap
Q. Define Migration in Microeconomics? Migration:It's the movement of human beings from one country or region to another. Sometimes migration is motivated by economic factors (
What is the difference between GDP and GNP? Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all mea
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The drawbacks of a mixed economy actually depend on how "mixed" it is. For instance, if it is mixed more towards a free-market, there is little regulation (some may see this as a g
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