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Explain dominant strategy and Nash equilibrium. If a game has a dominant strategy equilibrium, does it have a Nash equilibrium? If a game has a Nash equilibrium, does it have a dominant equilibrium?
How does Ticketmaster's "dynamic pricing" affect ticket sales, total revenue and profit? Does Ticketmaster provide a valuable service, or is it a necessary evil to purchasers of event tickets?
Which of the following statements about indifference curves is true.. The higher an indifference curve is for a? consumer, the greater that? consumer's marginal level of satisfaction. The higher an indifference curve is for a? consumer, the greater t..
Which of the following is a payroll tax?
Suppose two countries, A and B, with the same production function Y = K? L 1?? . The value of ? is 0.30, the growth rate of population is 2% and the depreciation rate is 5%. Compare both economies to the Golden Rule.
A rather wealthy man decides to arrange for his descendants to be well educated. He wants each child to have $60,000 for his or her education. He plans to setup a perpetual trust fund so that six children will receive this assistance in each generati..
Countries with higher personal saving rates tend also to have higher rates of business investment and capital accumulation. Explain why this fact does not provide a justification based on social efficiency for policies that increase U.S. personal sav..
Indicate the effect that each of the following conditions will have on a firms average variable cost curve and its average cost curve.
During World War II there was a freeze on wages, and corporations found they could evade the freeze by providing other fringe benefits such as retirement funds and health insurance for their employees. The Internal Revenue Service went along with thi..
Social life can be interpreted from one of three major theoretical frameworks. Describe the major points of each framework. List at least one sociologist who has been identified with each framework.
A monopolist is deciding how to allocate output between two geographically separated markets. Demand and marginal revenue for the two markets are: The monopolists total cost is C = 5 - 3(Q1 + Q2 ). What are price, output, profits, marginal revenues, ..
Describe in detail ow a perfectly competitive industry determines the price and quantity. Explain the role of the firm in this market regarding price and quantity determination. Show your answers utilizing a graph for the market as well as the firm.
q1. total fixed cost or sunk cost is independent of quantity produced.assume a small firm has invested 10 million in
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