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Consider a two-player, sequential-move game where each player can choose to play right or left. Player 1 moves first. Player 2 observes player 1's actual move and then decides to move right or left. If player 1 moves right, player 1 receives $0 and player 2 receives $15. If both players move left, player 1 receives - $10 and player 2 receives $8. If player 1 moves left and player 2 moves right, player 1 receives 10 andplayer 2 receives $10.
a. Write the above game in extensive form.
b. Find out the ash equilibrium outcomes to this game.
c. Illustrate which of the equilibrium outcomes is most reasonable? Explain.
Suppose that on January 1, the price of one hundred yen was $0.80 and PPP held. Over the year, the Japanese inflation rate was 5 percent and the U.S. inflation rate was 10 percent.
Illustrate what criteria are you using to classify this industry as an example of oligopoly.
In the 21st century Explain how has globalization affected trade restrictions also the development of common markets
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Brenda Johnson has used a preprinted form that she got from the internet to create her will.
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To determine which of the output levels represents a macroeconomic equilibrium.
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Draw a graph with arcade games on the horizontal axis also newspapers on the vertical axis. Joe has $10 every week to allocate between these commodities.
describe briefly how consumers and incumbent firms are influenced by these externalities.
Quantity, whole revenue and profit when company charges different price in each market and exploits its total profit.
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