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A local law firm has hired G&B Consulting to help determine a business strategy. There is a competing firm in the area and recently the two firms have begun talks in regards to a merger. The merger would mean that there are now more shared resources than either had before individually, and they would operate more efficiently. However, it would take a committed effort to pull it off. One of your coworkers analyzes the expected profits of each firm should they choose to go along with the merger or not and gives you the following results. If both firms agree to the merger the new firm should expect profits of $30 million in the next year. If neither firm agrees to the merger then each should expect profits of $15 million for the next year. If one firm spends resources on pursuing the merger while the other does not, the firm pursuing the merger should expect profits of $10 million the next year while the other firm is able to focus more on new clients and should expect profits of $20 million in the next year.
Construct a payoff matrix to represent the profits for each company under the different outcomes. Then, determine if any dominant strategies exists and explain how you are able to determine this. Identify any Nash Equilibrium points. Use these to explain the options available to the client.
Shane is required by his employer to work a standard eight-hour work day. Suppose his marginal rate of substitution (MRS) for leisure and income is less than the wage rate at this level of work. Comment about the nature of Shane’s employment.
The existing equipment will be sold for $6,000. Illustrate what is the first cost that should be used.
Five Hatfields and two McCoys are up for 3 construction jobs in Williamson. What is the probability that all 3 jobs go to Hatfields?
If Automatic stabilizers change the federal budget balance by $70 billion for every 1 percent change in real GDP growth, what will happen to the federal budget balance if the economy falls into a recession of -3 percent from a growth path of +2 perce..
In order to grow manufacturing jobs, suppose the federal government decides to give drivers refund $5,000 when they file their income taxes if they purchase a new car that was made in US. Will this policy affect the demand or supply curve and which w..
After specialization, suppose that Rob and Big trade with each other and Rob sends Big 127 cows. In order for both Rob and Big to benefit from trade, Big must send Rob more than: (round your answers to two decimal places)
Along the long-run Phillips curve, the unemployment rate ________, and the inflation rate ________.
The CPI for 2009 was 195 but i know that the imfataion rate couldn't habe been as high as95% in 2005". In your answer carefully explain what the value of CPI means.
Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Explain at what price of computers (in terms of shirts) the two countries might trade.
Suppose that the firm has determined its profits-maximizing level of inputs in the short-run. Now the price of a fixed input goes up. How will this change the behaviour of the firm? What will happen to profits? Why?
A manufacturer has been selling 1600 television sets a week at 370 dollars each. A market survey indicates that for each 36 dollars rebate offered to the buyer, the number of sets sold will increase by 60 per week. Find out the demand function.
Assume Adia and Zardia can switch between producing wheat and producing beef at a constant rate: In one hour, Andia can produce 3 Bushels of wheat and 5 pounds of beef. At which of the following prices would both Andia and Zardia gain from trade with..
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