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Based on the news article "Have We Evolved to Be Nasty or Nice?" (url below), Answer the following questions. 1. In the prisoner's dilemma, demonstrate that selfish behavior is inefficient. That is, show that players would both be better off if both cooperative. 2. In the problem of the commons, suppose each of two players has the choice whether to graze 10 cows or graze 5 cows on a common field. If both graze 10 cows, then each receives a payoff of 3. If both graze only 5 cows, then each receives a payoff of 8. If farmer i grazes 10 cows and j grazes 5 cows, then i receives a payoff of 11 and j receives a payoff of 1. What is the Nash equilibrium? Would the farmers be better off if both switched from the Nash equilibrium number of cows? Is this problem of the commons an example of the prisoner's dilemma? 3. Why do humans tend to cooperate with relatives and frequently encountered acquaintances? Discuss the role and the effect of reputation on cooperative behavior by selfish individuals. Discuss the biological reason for cooperative behavior with relatives.
Elucidate what happen in the short run to market supply and demand curves, market price, the firm's output, the firm's profit.
Joe has $16 to spend on Twinkies and Hohos. Twinkies are prices at $1 and Hohos are priced at $2 per pack.
Suppose that workers can be hired competitively at a wage of $200. Explain how many workers will they hire at this wage.
What What marketing strategies should Radiance pursue in the next five years? Explain why the strategies you select would best fit the organization. in the next five years? Explain why the strategies you select would best fit the organization.
Camera Shop will discontinue its operations next month. Explain will this information alter your pricing decisions today.
Full employment is without a doubt the ultimate goal of every nation; however, in spite of the failures of controlled labor markets over the past thirty years there is still a lot of controversy
To build trust among virtual team members, managers should Deep-six the egos
Illustrate what is the probability which at least one of the 5000 funds outperforms the market in 5 consecutive years, 10 consecutive years and 20 consecutive years.
Suppose that a monopolist's product could be either high quality (H) or low quality (L).
If the average income in the town increases to 15, solve for the new equilibrium Quantity and equilibrium Pb.
Assuming the policymakers do nothing, use the diagram below to show the effects of the consumer pessimism on aggregate demand.
Illustrate what or considerations may be taken into account in order to make a decision on implementation of policy.
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