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The time it takes a symphony orchestra to play beethovens ninth symphony has a normal distribution with a mean of 64.3 minutes and a standard deviation of 1.15 minutes. If an orchestra plays it so slowly that 80% of the orchestras play faster than this orchestra, how long does this orchestra play.
Assume that the companies in an oligopolistic market engage in a price war and, as a result, all companies earn lower profits. Game theory would describe this as what?
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
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.
Suppose you and your classmate are assigned a project on which you will earn one combined grade. You each wish to receive a good grade, but you also want to avoid hard work.
Describe the meaning of a Nash Equilibrium when companies are competing with respect to price. Explain why is the equilibrium stable?
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
While grading in a final exam, an economics professor found that two students have virtually identical answers. She is convinced two cheated but cannot prove it.
Consider trade relations in the United State and Mexico. Suppose that leaders of two countries believe the payoffs to alternative trade policies are as follows:
Construct a 90% confidence interval for the population average weight of the candies.
Assume that JVC is trying to decide how to rate a new stereo system composed of a receiver, CD player, & speakers. The firm's economists have estimated that 2-different groups will buy these products
You have observed the following returns over time. Suppose that the risk free rate is 6 percent and the market risk premium is 5 percent.
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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