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Suppose that Apple and Google are both choosing how to price a next generation smartphone. If they both price their phone $1,000, then each firm's profit would be $10 billion. If one company prices its' phone at $1,000 while the other prices its phone at $800, then the company with the relatively high price ($1000) will earn a profit of $5 billion, whereas the one with the relatively low price ($800) will earn a profit of $15 billion. If both Apple and Google price their phone at $8000, then each car manufacturer makes a profit of $6 billion.
a. Create the payoff matrix for this game.
b. What (if any) is the dominant strategy for each firm?
c. What is the Nash equilibrium of the game?
d. Is this game a prisoner's dilemma? Explain.
New EPA regulations have just been proposed. If they are enacted, the capacity of the hydrogen sulfide removal plant that is part of a coal facility.
The US economy was in recession in 1974, 1980, 1982, 1991, and 2001. Based on our earlier discussion of export and import functions.
Economically, what is the best combination of plans for Brad and Sheryl, assuming they both live to be 85 years old?
Which standard tools of expansionary monetary and fiscal policies can be utilized to stimulate an economy towards growth without increasing the deficit to epic proportions?
The problem is belongs to economics and it is explain about a number of units produced for a given fixed cost and variable cost are calculated in the answer through the given table.
What the difference between a price ceiling and a price floor? Please elaborate in details. Compare between physical capital and human capital?
Write a maximum one page sustainability memo that: Defines sustainability. Defines key assumptions about resources, technology, and human behavior.
A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a
this question is concerned with the value of major league baseball mlb franchises. the data was obtained for all u.s.
Write an explanation to someone who does not know how to make proper measurements on how to measure the following line with the ruler.
Give an example of a study in which we don't care about the actual numerical value of a population average, but in which we would want to know whether the average of one population is greater than the average of a different population.
Why do we use this notion in economics? How does it come into play in economic decision making? Please explain and elaborate.
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