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For a game (in the game theoretic sense), we need to specify the players. What else needs to be specified?
What is the difference between a normal-form game and an extensive-form game?
Define in words what a dominant strategy is.
What is a payoff-matrix?
Why do business departments have more money than other aepartments What economic measures can be taken to relieve the differences in salaries
Your firm’s research department has estimated the income elasticity of demand for Art Deco lawn furniture to be -0.85. You have just learned that due to an upturn in the economy, consumer incomes are expected to rise by 5 percent next year. How will ..
Bank Profits: Mbank has deposit liabilities of $50 million. It only keeps the minimum cash reserves required by law of 15%. Its annual costs (wages, rent, utilities, etc.) are $1.5 million. What is Mbank’s profit under the following circumstances?
riggs corp. is planning to spend 650000 on a new marketing campaign. they believe that this will result in additional
1. the owner of a tropical forest harvests timber so as to maximize his own profit from the land. this forested land
Use the first order conditions for profit maximisation to show that a monopolist will never produce on the inelastic portion of his demand curve.
What are the determinants of supply? How is the supply curve impacted by changes in determinants? What is the difference between a change in supply and a change in the quantity supplied and what are the causes of each?
The Big Box Company is a firm in a perfectly competitive industry. The average rate of return on capital in this industry is 10%. Thus, if the Big Box Company earns a 10% rate of return.A perfectly competitive firm is charging $7 and selling 1500 u..
for most firms today success or failure is determined by the ability to find attract keep develop and tap into the most
Richard Dulski’s firm is about to bid on a new radar system. Although the product uses new technology, Dulski believes that a learning rate of 80% is appropriate. The first unit is expected to take 720 hours, and the contract is for 45 units.
Suppose all N producers have Bertrand conjectures: Each conjectures that it can change the price it charges without any reaction from rivals in the prices they charge. What is the symmetric equilibrium in this case?
Conduct a cost-benefit analysis of obtaining a graduate degree. Assess both the short-term and the long-term costs and benefits to determine why some people obtain the extra education while others do not.
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