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Three friends (Julie, Kristin, and Larissa) independently go shopping for dresses for their high-school prom. Upon reaching the store, each girl sees only three dresses worth considering: one black, one lavender, and one yellow. Each girl furthermore can tell that her two friends would consider the same set of three dresses, because all three have somewhat similar tastes.Each girl would prefer to have a unique dress, so a girl's utility is zero if she ends up purchasing the same dress as at least one of her friends. All three know that Julie strongly prefers black to both lavender and yellow, so she would get a utility of 3 if she were the only one wearing the black dress, and a utility of 1 if she were either the only one wearing the lavender dress or the only one wearing or the yellow dress. Similarly, all know that Kristin prefers lavender and secondarily prefers yellow, so her utility would be 3 for uniquely wearing lavender, 2 for uniquely wearing yellow, and 1 for uniquely wearing black. Finally, all know that Larissa prefers yellow and secondarily prefers black, so she would get 3 for uniquely wearing yellow, 2 for uniquely wearing black, and 1 for uniquely wearing lavender.Provide the game table for this three-player game. To make your work easier to grade, please make Julie the row player, Kristin the column player, and Larissa the page player. Identify any dominated strategies in this game, or explain why there are none. What are the pure-strategy Nash equilibrium to this game?
1.The USA is the world's largest emitter of CO2, and China is the second largest. What issues arise from this in the formulation of a global policy to reduce CO2 emissions?
For 2012, Bayside Corporation sold 130,000 units of its product for $35 each. The variable cost per unit was $30, and Bayside's margin of safety was 30,000 units. What was the amount of Bayside's total fixed costs?
Using the relationship between the price of a visit to a physiotherapist and the quantity of visits demanded, define and distinguish among the direction, the slope, and the position of an economic relationship.
How would your answer to question 3 change if you were told that the data represent 10 different plants during a particular month of the year?
Plot a budget line for a representative consumer both before and after the voucher program. Do you expect that current consumption of a typical consumer will increase by the full 100,000 yen of the voucher? Explain.
Assume the external marginal cost of pollution is MCext=5Q and internal marginal cost is MCint=10Q. Further, suppose the inverse demand for the product, Q, is given by P = 90-Q.
Economists estimated the following cost function for X Company, Compute the ATC, AVC and MTC and plot on another graph.
Analyze the challenges that companies face in entering global markets. Identify the potential impact to capital budgets in making the decision to move into a global market.
You're reluctant to stop hiring temps all together because you save about 8 percent in total labor costs. What would you recommend doing?
Under what circumstances will (a) A rise in investment and (b) A rise in money supply cause a large rise in national income?
The Zinger Corporation manufactures and sells a line of sewing machines. Demand per period for a particular model is given by the following relationship:
Assume your firm's method of making decisions under risk is "making the best out of the worst possible outcome" What rule would you be forced to follow?
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