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Eco-game-10 two pages discussions and two responses
Discussion: Perfect Competition Is Dull
Joseph Schumpeter said that "perfect competition is not only impossible, but inferior, and has no title to being set up as a model of ideal efficiency." What does this statement say to you? Make your argument either supporting or refuting this statement, using purely economic arguments.
In response to your classmates' posts, respectfully dispute their positions based on either the replacement effect or economy of scope argument, as appropriate to the position you are taking.
Adapted from the minigame "Hide and Go Boom" from Nintendo's "Mario Party 4"- What is the probability that player 1 wins?
James is a rising ice hockey star. He is 19 years old and his future is looking very bright. He is very excited about being selected to play in a representative team and wants to do everything to maximise his chances of achieving this goal. He knows ..
It costs each company Brokely $3,000 per period to use filters that avoid polluting the lake. However, each company must use the lake's water in production
Find a real-world example where the uncertain quantity you are interested in can be modeled as a random variable with exponential distribution. Explain why the memoryless property indeed holds.
The standard deviation of fresh fruit consumption is about 30 pounds. Suppose a researcher took a random sample of 38 people and had them keep a record of the fresh fruit they ate for one year.
Compute the subgame perfect equilibrium of this game - In other words, player 1 makes the offers in periods 1 and 2, whereas player 2 makes the offer only in period 3.
A pizza delivery service delivers to a campus dormitory. Delivery times follow a normal distribution with a mean of 20 minutes and a standard deviation of 4 minutes. Find the delivery time that 20% of all deliveries are less than?
Draw this game in extensive form. - Using a matrix representation, find all the pure-strategy Bayesian Nash equilibria for this game.
Given that case c holds, write a formula for Row's probability of choos ing Up. Call this proba bility p, and write it as a function of A, B, and C.
Describe the circumstances under which you should use ANOVA instead of t tests, and explain why t tests are inappropriate in these circumstances. Find a peer-reviewed article that reflects these circumstances, describe the research conducted (i.e...
Show that the game has no Nash equilibrium in pure strategies, and that the pair of mixed strategies in which each player chooses 1, 2, and 5 each with probability 1 is a mixed strategy Nash equilibrium.
Next suppose that the game being played is the battle of the sexes. In the long run, as the game is played over and over, does play always settle down to a Nash equilibrium? Explain.
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