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Continuing with the advertising model, suppose the firms compete on price rather than quantity. That is, quantity demanded is given by Q = a - p, where p is the price consumers face. After firm 1's selection of the level of advertising, the firms simultaneously and independently select prices p1 and p2.
The firm with the lowest price obtains all of the market demand at this price. If the firms charge the same price, then the market demand is split equally between them. Find the subgame perfect equilibrium of this game and explain why firm 1 advertises at the level that you compute.
Suppose that the MBA education industry is constant cost and is in long run equilibrium. Demand raise, but due to strict accreditation standards, new companies are not allowed to enter the market.
A finite lot of 40 digital watches includes 30% nonconforming units. Using the hypergeometric distribution, what is the probability that a sample of 6 will contain 3 nonconforming watches? Show your work.
Write the payoff vectors corresponding to the equilibria of these games to reveal a pattern. - Can you tell to what the payoff vector of the T-stage game converges as T becomes large?
Show that the set of trembling hand perfect equilibria of this extensive game is disjoint from the set of behavioral strategy profiles associated with the trembling hand perfect equilibria of its strategic form.
Critical Thinking: Suppose you and a friend each take different random samples of data pairs (x,y) from the sample population. Assume the samples are the same size.
case study1game theorytimemagazine and newsweek are twocompetingnews magazines.suppose thateach
a consider the same game as in question above but suppose t is not known.instead we know that the game continues with
After preceding application is written, modify it to produce a short story consisting of several of these sentences. (How about the possibility of a random term-paper writer?)
Write down the payoff table for this game, and find the equilibrium when the two firms move simultaneously. Write down the game tree for this game, with Coke moving first and Pepsi following.
What is the accumulated value at t = 30 of a 30 year ordinary annuity that has the first of its annual payments equal to $1000 and subsequent payments increasing by 2% through the 10th payment and equal to $1500 for all the remaining payments? Use..
What is the probability of no off-the-job accidents during a one-year period (to 4 decimals)?
What is the Nash equilibrium or equilibria in this game? What is a first-mover advantage? Does BP have a first-mover advantage in this game? Use the above information to advise BP on whether they should pursue a merger with Shell.
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