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Problem
Two competing hospitals in small city can choose whether to offer only basic health care, all-purpose care, or specialized care. The following payoff table denotes profits for each hospital:
a) Does either hospital have a dominant strategy (or any dominated strategy)? Assuming that they determine their strategies independently of one another, what are the hospitals' respective Nash equilibrium strategies? Explain why.
b) Suppose instead that the hospitals coordinate. What actions should they each take?
c) What general economic reasons might there be for a hospital merger to generate an increase in profit?
Suppose if the Federal Reserve were to sell bonds, what would likely happen to money supply and interest rates? Explain it carefully.
The American Baker's Association reports that yearly sales of bakery goods last year rose 15%, driven by a 50% increase in the demand for bran muffins
Think of a time when you were involved in strategic decision making. This could be a business situation or a personal condition. It could be anything from buying inputs for a producing company,
How does capital investment affect the marginal physical product of labor and does more college education have the same kind of effect also which is a better investment
Assume a risk-free asset has a 5% return and a second asset has an expected return of 13% with a standard deviation of 23 percent.
Four firms are in fast increasing sectors. Each has a constant price to earnings ratio (P/E). Each firm is about to publicize new products that could boost companies earning per share.
Assume that the manager of a company operating in competitive market has estimated the company's average variable cost function to be AVC=4000-5Q+0.002Q^2
Suppose you have been appointed as Global Manager of a company that has 2-plants, one in the US and one in Mexico. Suppose, you cannot change the size of plants or amount of capital equipment.
What if a company employs ten workers and pays each $15 each hour. Further suppose that the MP of the 10th worker is five units of output
The following table shows information for a simple production function. From the data in the table, calculate marginal and average products.
After a 10 percent price discount, a company found that its weekly sales increased by 30 percent. If the marginal cost (MC) of this product is $40 each, determine the optimal price for this product?
According to the chief engineer at the Zodiac Corporation, Q=AL^a K^b, where L is the rate of labor input, Q is the output rate, and K is the rate of capital input.
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