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What terms are included in the monopolistic competition?
Product Differentiation:
1. The meaning of monopolistic competition and product differentiation
2. Why monopolistically and oligopolists competitive firms distinguish their products
3. How prices and profits are founded in monopolistic competition into the short run and the long run
4. Why monopolistic competition causes a trade-off in between lower prices and greater product diversity
5. The economic importance of advertising and brand names.
Rules of Snake Eyes (small variation on game called Craps in USA) Player rolls two dice. On the first roll if the total of the dice is 2 (snake eyes): player wins and rece
Limitations of game theory in finance
To give Mom a day of rest, Dad Plans to take his two children, Bart and Cassie, on an outing on Sunday.Bart prefers to go to the amusement park (A), Whereas Cassie prefers to go to
A strategy defines a collection of moves or actions a player can follow in a very given game. a method should be complete, defining an action in each contingency, together with peo
This version of Twenty-one is a card game played between a player and the dealer (the computer). The aim of the game is to accumulate a higher point total than the dealer but witho
A method by that players assume that the methods of their opponents are randomly chosen from some unknown stationary distribution. In every amount, a player selects her best respon
One of the foremost common assumptions created in game theory (along with common information of rationality). In its mildest kind, rationality implies that each player is motivated
1. Consider two firms producing an identical product in a market where the demand is described by p = 1; 200 2Y. The corresponding cost functions are c 1 (y 1 ) = y 2 1 and c 2
Explain oligopoly's structure and use game theory to explain why oligopoly firms tend not to use price to compete. Answer- Oligopoly is an imperfect market where there are
Identification may be established either by the examination of the specification of the structural model, or by the examination of the reduced form of the model. Traditionally
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