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Gini & Marcoux give a discussion of Competition. They begin with a discussion of sports and move to a discussion of competition in business. What do they say are some of the similarities and differences between competition in sports and in business. What other differences/similarities can you think of between the two? Gini and Marcoux further discussed a number of virtues of being a good competitor in sports, do you think these same virtues apply to business competition? If not, do you think would apply?
Explain the key features of each of the the three generations of currency crisis models. Which of the three models best describes each of the financial crises discussed in this chapter? (Book-international finance and open-economy Macro economics by ..
Draw the payoff matrix for this game. Elucidate any possible Nash equilibria in pure strategies for this game.
The inflation rate from 2010 to 2011 for a good j is defined to be Ij = (Pj/pj) ? 1, where pj was the price in 2010 and Pj was the price in 2011 (assuming for simplicity that the prices stayed fixed throughout each given year.
Consider the following short-run production function: q = 5L^2 − 1/3L^3. Derive a marginal product of labor. Derive an average product of labor. At what level of L is the average product of labor maximized?
What are the advantages and disadvantages of using an expansionary monetary policy in a recession compared to using fiscal policy? The question is specifically about the advantages of monetary policy compared fiscal policy in a recession. What are th..
Graph the supply and demand curves. Please identify the x and y axis properly, the Price and quantity intercepts and equilibriumraph the supply and demand curves. Please identify the x and y axis properly, the Price and quantity intercepts and equili..
Assume that you were ready to buy a custom tailored Dress (or men’s suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, ..
Explain the equilibrium price will remain unchanged, smokers will consume the same number of cigarettes. Do you agree or disagree with this view.
For out Back Steakhouse, seating capacity is limited in the short run.
Two firms, the Alliance Company and the Bangor Corporation, produce vision systems. The demand curve for vision systems is P = 200,000 - 6(Q1+ Q2) where P is the price (in dollars) of a vision system, Q1 is the number of vision systems produced and s..
A number of Latin American nations export coffee and import other goods. A long-term drought now reduces coffee production in the countries of this region. Assume that they remain exporters of coffee. Explain why the long-term drought in the region m..
Where do you think the rest of the monetary base is (from money supply), and under what conditions might it return to the banking system?
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