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An odd number n of agents are located along the line interval [0,1] and must decide where to build a sports centre in that interval. The preferences of agent i (i=1,2,...,n) are represented by the utility function U1(x) = 1 - x - xil, where x = [0,1] denotes the location of the sports centre and x/ € [0,1] is the location of agent i's home. The collective decision is made by minimizing the sum of the distances between the centre and the agents' homes.
a) Draw the utility function of a representative agent.
b) Is the chosen location a Condorcet winner? Explain your answer.
A portfolio has an expected annual return of 15.7 percent and a standard deviation of 19.6 percent. What is the smallest expected loss over the next calendar quarter given a probability of 1 percent?
The federal funds rate is currently held in the 0-025% (zero-bound) range. Suppose the Fed suddenly announces that it will raise the target federal funds rate to 1% over the next 6 weeks. Given these effects and current macroeconomic conditions, woul..
What does the latest research say about the connection between customer satisfaction and customer loyalty? Do an Internet search of this topic and find specific statistics.
Suppose that if there are n users of a network, the value of the membership is proportional to n(n − 1). If the value of a network to a single user is $1 for each other user on the network, then a network of size 100 has a value of:
Does this process support operational effectiveness, satisfy compliance requirements, and promote quality patient care? Explain.
Although most people agree that the government’s role in the free market economy should be limited, the degree of appropriate government involvement is contested
You observe that states with higher income tax rates also tend to have higher rates of employer-provided health insurance. Is this fact a good test of the effects of tax policy on the demand for employer-provided health insurance? Explain.
The various estates in land described by the author of your text in Chapter 3 arose mostly out of the struggle between the English Crown’s need for revenue and the efforts of the holders of the land to avoid taxes. Are these estates useful in this da..
With showing your work in details, determine the requested information for acontrol chart for count of non-conformities.Trial center line. Trial upper control limit.
Which of the subsequent is directly included in the calculation of the GDP?
Calculate the overall present worth of these cash flows with tax effects if market interest rate is 10% and annual inflation rate is 2%.
egocentricity and sociocentricity broadly define stages of human growth, and both ultimately become diminished or fade entirely as we mature into adulthood.
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