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Question: If both firms have a low price, both Firm A and Firm B gain 2. If both firms have a high price, both gain 15. If firm A has a high price and Firm B has a low price, Firm A loses 8 and Firm B gains 10. If Firm A has a low price and Firm B a high price, Firm A gains 10 and Firm B loses 8. What are the dominant strategies for Firm A and Firm B respectively?
What is the rollback equilibrium to this game?
Explain how financial markets promote economic growth in developing countries. Also explain if MP has any long run impact - use AD-AS model.
Discuss economic theory related to the quote above. Be sure to include a definition of exports and the way in which exports are counted in the measurement of Gross Domestic Product (GDP) within your discussion.
Explain why the Jewish temple of Jesus' day had been rebuilt twice. What is the Septuagint and how was it used by New Testament writers?
Suppose you read that business inventories increased dramatically last month. What does this tell you about the state of the economy? Would your answer
Suppose you are the owner-operator of a gas station in a small town. Over the past 20 years, you and your rival have successfully kept prices at a very high.
A company in a purely competitive industry is currently manufacturing 1200 units per day at a total cost of $600. If the company purchased 1000 units per day,
Technology has certainly been a huge contributor to labor productivity and in turn standards of living over the past 30 years.
Describe the 5 key elements necessary to making planned change successful.
Look at some of the news reports on the current election campaigns. State a claim made by a candidate that is an example of the fallacy of false cause. How do economists attempt to avoid this problem
Suppose that Robinson Crusoe regards employment and goods as perfect substitutes on the demand side, and produces with a decreasing returns technology.
Now let's consider the issue of real versus nominal. Take a look at the wages of the two sectors. What were the changes in real wages earned
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