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There are 6 tokens on the table. Two players alternate removing some of the tokens. In each move any player can either remove exactly oneor exactly two tokens. Whoever removes the last token is the winner (tokens are worthless per se - it does not matter who removed how many of them).a) Represent this game as a game treeb) Which player is going to win? Find the subgame perfect Nash equilibrium using backward induction. Precisely describe full strategies.
Studies of the effects of immigration into the United States from Mexico tend to find that the big winners are the immigrants themselves. How might things change if the border were open, with no restrictions on immigration.
Explain why hyperinflation has such a devastating impact n economies. Explain what it takes to stop hyperinflation Describe the three types of unemployment. What types of government programs would be most effective in combating each type of unempl..
Some firms will lobby their legislative bodies to impose barriers to entry. Can anyone think of groups or firms that do this?
Determine whether each of the following increases, decreases, or remains unchanged in the short run: the market interest rate, the quality of money demanded, investment spending, aggregate demand, potential output, the price level, and equilibrium..
When looking at regression results, how do you know which of the estimated regression slope coefficients are STATISTICALLY SIGNIFICANT. How do you know if the independent variables explain a large fraction of the variance when looking at regression ..
general electric which produces light bulbs, jet engines, washing machines, and so on, kinko's which has a photocopy store near many colleges and univesities, usx corporation which owns ore and coal mines, coke ovens, blast furnaces, mills, and foun..
Which of the following does not describe the circular flow model between the householdand the firm? John works at a coffee shop and makes $10 per hour. He decides to leave work an hour early to go see a movie that costs $8 per ticket. The opportuni..
Emil Flores won't buy any coffee except "Blue Mountain"--a relatively expensive type that few stores sell. He used to have to drive about 10 miles out of his way to buy it at a small shop--but now he has persuaded his local supermarket manager to ..
For many years, your company has been protected through patents, Technological change and introduction of new products have been slow.
Cost-Plus Pricing. Wendel Stove Company is developing a "professional" model stove aimed at the home market. The company estimates that variable costs will be $2,000 per unit and fixed costs will be $10,000,000 per year.
Describe why the results of computing cross-price elasticity can be useful in determining product relationships. In your explanation, contrast the different numerical values of cross-price elasticity and what each value indicates.
Third National Bank is fully loaned up with reserves of $20,000 and demand deposits is similar to $100,000. The reserve ratio is 20 percent.
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