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Your professor lost two homework assignments, one which was yours and one which belonged to one of your classmates. Your professor remembers that the grade was the same on both assignments, but doesn't remember what it was. The students know the true grade because they have checked the answer key, and determined which problems they answered correctly and which problems they missed. The professor devises the following plan. Each student can tell the professor a grade between 0 and 100 (integers only). If both students write down the same number, then the professor will take that as the true value, and each student will be assigned that grade. If the students write down different numbers, then the professor takes the lower number to be the true grade (call it TG) and then gives a grade of TG 2 to the student that reported the high grade(because they may have been lying to increase their grade) and a grade of TG+2 to the student that reported the lower grade (because they were being more. a) Assume that players can only choose either 5 or 10 for their grades. Write down the game in the normal form, determine which game this is, and find the Nash equilibrium. b) Assume that players can only choose either 9 or 10 for their grades. Write down the game in the normal form, determine which game this is, and find the Nash equilibrium. c) Now assume that players can choose any integer between (and including) 0 and 100.What is the Nash equilibrium?
The demand schedule for JK Rowling's book is Q=3000-100P. The cost of having the book typeset is $10,000 and then the cost of printing each copy is $4. How many copies should JK Rowling print?
What is the Zero profit Theorem? Explain briefly. Suppose a grocer in a growing neighborhood comes to enjoy large eco nomic profit by virtue of his special location, which is not available to competing stores. If no new firm can locate nearby, it wou..
Complete the International Trade Simulation. Elucidate how absolute also comparative advantage was used in your simulation.
Average tax rate is a. total taxes paid divided by total income b. measures the sacrifice a taxpayer makes c. measures the incentive effects of taxes on work effort, saving, etc. d. Both a and b. e. All of the above.
Stoneware pottery company wants to determine how many bowls and mug should be produced per day in orde to maximize pofit given the labo rand material constraints. The unit profit value for bowls is $40 per unit, for mugs the unit profit value is $50 ..
Explain if rewards are tailored towards individual, group, and / or company performance. Explain how you as HR manager will create an incentive pay program that will motivate employees.
The rate at which one input may be substituted for another input in the production process, while total output remains constant
An interesting example of strategic behavior comes from a 1997 article about Microsoft’s investment in Apple (New Straits Times, 1997). The article is included in the Required Readings list. What market structure do these firms operate in? Why did Mi..
q.a machine has a first cost of 100000 in todays dollars and a salvage value of 40000 in current dollars at the end of
Consider the following static airline game. Two airlines, Delta and American Airlines, compete setting prices for the route Columbus-Chicago on Tuesdays at 7:20PM. There are 60 potential passengers with a reservation price of $500 and 120 additional ..
Describe the role and function of the International Labour Organization (ILO) Administrative Tribunal. Use the CSU Online Library and other sources to research articles concerning this organization. What makes this organization so important to emp..
LED light bulbs use only 20 to 25 percent of the energy used by traditional incandescent bulbs. Even if all consumers replace their old bulbs by the LED bulbs, do we expect that the arrival of LED light bulbs will decrease energy consumption for ligh..
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