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Considering a two-player, one-shot simultaneous-move game, and each player can choose strategy A or B. If both players choose A, they both get $400; and if both players choose B, each of them gets a payoff of $200. If one chooses strategy A and the other chooses strategy B, then the one chooses A earns $100 and the payoff for the other chooses B is $600.
a) Write the above game in a normal form.
b) Write the above game in an extensive form.
c) Find each player’s dominant strategy, if it exists.
d) Find the strategy set that yields Nash Equilibrium for this game.
A town in Wyoming wants to drill geothermal well to provide a district heating steam and hot water for its businesses and residences.
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describe an experience where you have worked with or know someone with problems associated with shift work. what were
i. price discrimination is selling a product at different prices when the underlying cost is the same. describe the
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If the firm has $20,000 on hand, with only these two project to choose from, will they invest in A, B, neither or both? Show the calculations that lead to your conclusions. Explain whether you answers would be different for either project if the f..
Suppose the production function is given by Q = 5K + 3L. What is the average product of capital when 10 units of capital and 10 units of labor are employed?
Think that the following entry game. Here, company B is an existing company in the market, and company A is a potential entrant. Company A must decide whether to enter the market or stay out of the market.
Why do we see cigarette butts and other trash by the side of the road and often by the end of an interstate exit ramp? In other words, consider why we see litter where we see it as well as where we don’t
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