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You are in a class with one other student. It is the end of the semester and final exams are in one week. Your teacher has said the final exam will be graded so that anyone who scores the class average on the final exam will receive a B in the class. Anyone who scores above the class average will receive an A in the class. Anyone who scores below the class average will fail the class. You would certainly score higher on the exam than the other student. You and the other student have made an agreement not to take the final exam so that the class average is zero and you both receive a B grade.
a. Determine the basic elements in this game.
b. What are the strategies for each player.
c. What are the payoffs for each player.
d. Create a payoff matrix for this game.
e. What is your dominant strategy.
f. What is your classmate's dominant strategy?
g. Which choice will result in the best outcome? Why?
Explain the change in the infant mortality rate (IMR) in the United States since 1960
write your paper in the style of an academic journal article. the in-class readings as well as articles published in
Why will a monopolist"s output increase if the government forces it to lower its price? If the government wants to set a price ceiling that maximizes the monopolist"s output, what price should it set?
timmy tyler 52 years old was fired by his employer university tool and dye. after he was fired timmy received a letter
The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Assuming these statements to be correct, How will a successful campaign that decreases the supply of drugs influence the price
Adjust the graph to show the effects of improvements in farm technology. Explain the processes underlying these effects. You may clarify your response with hypothetical prices and quantities.
Marginal cost are identical
Write down the some real-life examples of monopolistically competitive, oligopoly, and monopoly markets.
Calculate output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level. Explain your answers briefly
Further understand the economic way of thinking and the accounting implications and give you an incentive to think critically about course information.
Why are government imposed "average cost pricing" and "nationalization of industries so pricing is at marginal cost" both second best outcomes to the competitive markets? P=MC=min ATC long run equilibrium?
Here is the information you require to answer the question. This information is taken from the graph. So you will require to draw the graph to answer the questions. The best level of output for monopolist in short run is 500 units and is given by p..
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