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Consider a variation of the limit-capacity model analyzed in this chapter. Suppose that instead of the firms' entry decisions occurring sequentially, the firms act simultaneously.
After observing each other's entry decisions, market interaction proceeds as in the original model. Find the subgame perfect Nash equilibria of this new model and compare it/them with the subgame perfect equilibrium of the original model.
Show that the strategy pair is not a subgame perfect equilibrium: find a player who can increase her payoff in some subgame. How much can the deviant increase its payoff?
Write down an expression (in terms of w) for the wheel monopolist's profit. Show that for any w> 0, the total profits of the skate and wheel monopolists is lower than the integrated monopolist's profit.
Gasoline prices above $ 3 per gallon have affected what Enterprise Rental Car Co. can charge for various models of rental cars.
The market for olive oil in new York City is controlled by 2-families, Sopranos and Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter New York City olive oil market.
How many samples would be required if we wished to obtain the maximum possible number of samples needed (i.e., we do not want to rely on the 37% estimate from above) with a 95% confidence and 0.03 error?
Assuming that the systolic blood pressures of deep sea divers are normally distributed, the doctor would perform a chi-square test to test her research hypothesis. In that case, what is the test value that she would compute.
Do you think farmers collected more or less hay once this law was established and do you think Iceland's prosperity improved because of good neighbors?
After you play the game write a response discussing what aspects of trade this game showed. Also discuss the kinds of restrictions on trade coutries use with each other and how they affect the market.
assume two classmates a and b are assigned an extra group project. each student can choose to shirk or work. if one or
The "Prisoner's Dilemma" was the gateway to the strategic viewpoint of game theory. In this assignment, you will explore the applications of game theory to economic business decisions.
What is game theory? What is a Nash Equilibrium or Nash equilibriums in this game?
In a two player, one shot simultaneous move game each player can select strategy A or B. If both players select strategy A, each receives a payoff of $500.
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