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A. Show that in the insurance signalling game, if the consumers have finitely many policies from which to choose, then an assessment is consistent if and only if it satisfies Bayes’ rule. Conclude that a sequential equilibrium is then simply an assessment that satisfies Bayes’ rule and is sequentially rational.
B. 1. Is there a deadweight loss if a firm produces the quantity of output at which price equals marginal cost? Explain.
2. It has been noted that rent seeking is individually rational but socially wasteful. Explain.
3. Make a list of real-world price discrimination practices. Do they meet the conditions posited for price discrimination?
4. Make a list of market monopolies and a list of government monopolies. Which list is longer? Why do you think this is so?
Then make an argument for why the government may still prefer using the other approach.
q.assume that the following asset values in millions of dollars exist in ironmaniacategory value federal reserve notes
In order for a price-discrimination scheme to be effective at boosting profit, the seller must...
q1. in recent years the value of the dollar had declined relative to the euro. what does that mean for european
How is it that higher tax rate can increase tax revenue in some cases, but a higher tax rate can decrease tax revenue in other cases? Relate this to the price elasticity of demand. (Excise Taxes)
An airline is considering the purchase of an Airbus A-320neo which offers improved fuel efficiency over the previous generation of narrow-body aircraft. The finance department estimates the aircraft will generate a positive net cash flow of $6 millio..
Why does the assumption of independence of risks matter in the examples of insurance.
1. you are a commuter student at a local university. because of the steep rise in gasoline prices your parents decide
decide how line is too long and leave without getting into line. Assume that no car that actually chooses to enter line leaves without service.
How is it possible that in perfect competition some firms have economic profits equal to zero while others have a positive economic profit. Can they have a positive consumer surplus? Isn't it a contradiction?
Is stability in the general level of prices through time important? Why or why not? Should price stability be the goal of monetary policy? Explain your responses.
If a product yields external benefits, then the:
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