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Suppose two countries A and D use many inputs. Country A exports tractors and imports televisions. Assuming there are no economies of scale, which of the following statements is true?
a) If the countries did not trade, then A would have a lower opportunity cost for tractors.
b) Even though there is trade, A has a lower opportunity cost for tractors.
c) A is sure to produce no televisions while D is sure to produce no tractors.
d) Neither country can consume at a point outside its production possibility frontier.
(b) The game also has a mixed strategy Nash equilibrium. Find the equilibrium probability that each country will act tough as a function of k. (c) Does the equilibrium probability that a country will act tough rise, fall, or remain constant as k ri..
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Tables John Walker is a regional sales representative for Jiffy Mowers Inc. and sells lawn mowers to stores in the Tri State area. Construct a table showing Walkers marginal sales per day in each state.
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