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Assume that a cake is being divided in the following way among two players. Each player writes down a number from zero to one on his piece of paper. Then both players turn over their pieces of paper. If the sum is less than or equal to one, each player gets a share of the cake equal to the number he wrote. If the sum is bigger than one, each player gets nothing.
What are the pure strategy Nash Equilibria of this game? Do they help you at all in predicting the result of the game?
The market for hog hats is competitive and demand is given through P=75-Q while supply is given by P=15+2Q. Determine the equilibrium price and quantity in this market?
Elucidate and discuss if and how this has changed over the past 5 years. Write a brief description of the fiscal policy of the United States.
Explain how will unskilled workers adapt to a workplace requiring more skilled workers and fewer unskilled workers.
Suppose that two companies are duopolists that produce identical products. Demand for the products is given by following linear demand function:
Illustrate what are the major macroeconomic goals of all societies.
Illustrate what happens to bicycle supply. What happens to bicycle demand.
Elucidate what is the effect of an increase in the quantity of money. What is the difference between real variables and nominal variables.
Assume that the payouts of the game were changed (if necessary) such that it results in gamblers having a positive expected value.
Elucidate what would the elasticity of supply have to be for a food stamp program to increase the availability of food to the poor with no prices increase.
Elucidate the effectiveness of these staffing practices and selection tools in meeting current and future employment needs of the organization.
Illustrate and explain the interaction of households, businesses, government and global markets in the circular flow of economic activity.
Elucidate that specialization and trade can move both countries beyond their production possibility frontiers.
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