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A) Explain why the mixed strategy is a logical Nash equilibrium, even though intuitively it seems like the worst thing that two friends could do.
B) Explain what a best-response function is.
The long-run and short-run aggregate supply curves reflect fundamental differences between long-run and short-run macroeconomic analysis. Graphically illustrate the long-run and short-run aggregate supply curves. Be sure to label the axes.
In a perfectly competitive industry, the price of good A is $2. If a firm in this inudustry decides to increase its price to $2.50, it will:
An externality arises when a firm or person engages in an activity that affects the well-being of a third party, yet neither pays nor receives any compensation for that effect. If the impact on the third party is beneficial, it is called a (negative,..
In a macroeconomic equilibrium,
Explain how does the deposit primarily change the T-account of the local bank. How does it change the money supply.
1.nbspnbspnbspnbspnbsp production possibility frontiers studying or socializing?nbspa. nbspdraw a production
q.suppose initially that the demand also supply for premium coffees 1lb bags are in equilibrium. now suppose starbucks
To produce that many donuts weekly, company uses 1,000 pounds of flour, which must be delivered by 5:00 am every Friday morning. Explain how should manager of company acquire flour. Explain."
Market vs. Command System- Economic and Political, which one is better and why? Answer should be at least five paragraphs long with examples, as well as 2 sources. APA style.
Suppose nominal GDP in 1999 was $100 billion also in 2001 it was $260 billion. Illustrate what is the own-price elasticity of demand.
A county is considering using a piece of park land for one of two alternative recreation projects.
Most labor economists believe that the supply of labor is..
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