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A mother is torn among choosing her son Leonardo and her daughter Meryl to have the last bar of chocolate in her cupboard. As both her children's needs the chocolate and she needs to be fair, she decides to resolve the issue by having her children compete in the playground game of rock-Paper-scissors. According to the rules of the game, a rock (fist) breaks scissors (two fingers striking out), scissors cut paper (flat hand), and paper smothers rock. If both players end up taking the similar there is a tie and the game is repeated.
a) Determine the payoff matrix for this rock-paper-scissors game
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analyze the method by which firm can allocate the given advertising budget between different media of advertisement
a) In 1948, the money GNP was $520 billion and the price index was 120. In order to make the 1948 GNP comparable with the base year, the 1948 GNP must be adjusted to:
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A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output. The firm, Though, faces an upward-sloped labor supply curve of E= 20w-120 W
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Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
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