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A group of 7 players play the following game. Each writes down a positive integer that is less than 1000. The player who writes down the smallest number is awarded a prize equal to the number of dollars equal to the number that she wrote down. If there is a tie for smallest number, the prize is divided equally among those who wrote the smallest number. Find the strategy or strategies that survive iterated deletion of strictly dominated strategies. Explain your answer.
Can you think of a company/supplier/store/manufacturer/producer that has used a unique/innovative approach to produce a quality commodity (high utility)
Find the annual 10-K report for Green Mountain Coffee Roasters (GMCR) online for 2012 (filed in September 2012). Answer the following questions from its balance sheet: How much cash did Green Mountain have? What were Green Mountain total assets? What..
Assume you estimate the Time value of money is at 12%. What is the PV?
The monthly market demand curve for calculators among economics students is given by P=100-2Q, where P is the price per calculator in dollars and Q is the number of calculators purchased per month. Find the price/quantity combination that would maxim..
Jerry receives utility from days spent traveling on vacation domestically (D) and days spent traveling in a foreign country (F) as given by the utility U(D,F)=DF. The price of a day spent traveling domestically is $160 and in a foreign country $200. ..
Explain the difference between a “pull” promotional strategy and a “push” promotional strategy. Under what conditions should each strategy be used? Give an example of a 'Pull Strategy' that you have experienced.
Medfin Accounting Company (MAC) specializes in providing accounting and tax services for medical establishment and professionals. Presently, the company's production method is highly labor-intensive because many of the books keeping tasks are done ma..
Society’s total surplus is maximized in perfectly competitive markets. Statement 2: In the long run, only perfectly competitive firms operate at the minimum of the average cost (AC) curve.
Which of the following is a major difference between the AD-AS model and the dynamic AD-AS model? The dynamic .AD-AS model assumes the economy does not experience long-run growth, while the AD-AS model assumes there is constant inflation in the ec..
A profit maximizing monopolist is earning a positive economic profit. The wage it pays its workers rises. How will the firm's choice of P and Q change in response to the wage increase. Use a diagram in answer. (Assume monopolist is still earning a po..
The present value of a dollar rises as
What are some of the basic things that a business can use to reduce its tax obligations, i mean like reduce the amount of tax that they have to pay.
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