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What is prisoner's dilemma game? How is it relevant in evaluating the likelihood of cheating in a cartel?
What happens in the long run when the patent expires and otherfirms are free to use the technology?
Evaluate Aristotle's six types of government. In doing so, please be sure to list and define the categorizations. Please then assess how these classifications can be useful today to someone analyzing current governmental structures.
What effect does immigration have on wages - does immigration help or hurt a country's output and what are the advantages of immigration and what are the disadvantages of immigration?
Provide an update on the economy-where is unemployment, what is the outlook for the deficit, what are the overall predictions for 2010 - 2012?
Paul is starting a new job with SuperKleen janitorial services. Provided he is not fired for shirking, Paul will stay with SuperKleen for twenty years. His productivity (assuming he does not shirk) and value of leisure over this period are given b..
Jason is indifferent between $10 for sure and a lottery that pays $100 with probability 0.09 and $0 with probability 0.91. He is also indifferent between $70 for sure and a lottery that pays $100 with probability 0.80 and $0 with probability 0.20.
a) What kind of returns to scale does this technology exhibit? b) Calculate the Conditional Input Demand for good 1, and good 2, c) Find the cost function, as well as the marginal cost function.
Suppose the Fed does not change the money supply. According to the theory of liquidity preference, what happens to the interest rate? What happens to the aggregate demand.
What problems arise in estimating whether an equal income distribution is fair or not? Diuscss the difference between income and wealth?
You are considering auctioning a Leonardo Da Vinci original sketch. You entice four bidders to come to your auction. The bidders' valuations of the sketch in decreasing order are $3.0, $2.2, $2.0, and $1.5 (in millions). If you used a second-price..
Why is the principle of minimizing input and increasing output important in business?
Suppose that Wal-World and Tarbo are independently deciding whether to implement a new bar code technology. It is less costly for their suppliers to use one system and the following payoff matrix shows the profits per year for each company.
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