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Explain the concept of a Nash equilibrium. In your answer make sure that you explain how, why, and in what sense a Nash equilibrium may not yield the "best" outcome for the parties in question.
500 Words................
In June 2008, the U.S. retail gas price jumped from $3 to $4 a gallon. This is a 33% increase in price from January 2008. During that time, the total quantity of gasoline purchased fell by 3%. Supplies of gasoline produced also decreased from one mil..
What determines interest rates? What is the role of risk? Of term? Of inflation? Of transactions costs? Please be specific like what will cause it to go UP and what will cause it to go down and why.
What is the relationship between the marginal rate of substitution between leisure as well as labor as well as the marginal product of labor in the RC model.
An increase in the supply of loanable funds will lead to a(n) _______ in the interest rate and a(n) _______ in the quantity of capital demanded.
The US market of rice is described by the following domestic supply and demand equations: QdUS = 200 – 2 P , QsUS = -100 + 3 P where QdUS and QsUS represent the quantities demanded and supplied (in millions of tons) and P is the price per ton of rice..
Demonstrate graphically how the price of land is determined. Show the effect of a tax on that land. Explain why that tax won’t cause the price of land to rise.
How does the life cycle also permanent income theories resolve the seemingly contradictory pieces of evidence regarding consumption behavior?
In a short-run production process, the marginal cost is rising and the averger variable cost is falling as output is increased. thus
Sam is interested in buying two types of goods, x and y. He can either use all his income to buy 3 units of x and 9 units of y, or 9 units of x and 3 units of y. If he spends all his income on x, how many units can he buy?
Suppose that the cost of capturing a cockatoo and transporting him to the USA is $40 per bird. Cockatoo are drugged and smuggled in suitcases to the USA. Half of the smuggled birds die in transit. Each smuggled bird has a 10% probability of being dis..
The U.S. Commercial Service prepares reports known as the Country Commercial Guide for countries of interest to U.S. investors. Utilize the Country Commercial Guide for Brazil to gather information on this country's energy and mining industry. Consid..
Calculate the monetary base. What is the value of the money supply (M1) What factors determine the level of excess reserves in the system? Calculate the money multiplier. What would happen to the level of deposits in the economy if the Fed bought $10..
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