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How did the 1971 law that banned cigarette advertising on television solve the prisoners' dilemma for cigarett producers?
What is the meaing of tit-for-tat in game theory? What conditions are usually required for tit-for-tate strategy to be the best strategy?
Compute the monopoly equilibrium. Compute the consumer surplus. Assume this firm practices two-parts tariffs, Compute the optimal output.
Find out the income elasticity of demand. Elucidate whether gas is a normal or inferior product.
Assume a randon variable x, that is uniformly distributed between 25 and 50. a. What is the mean of x? b. What is the standard deviation of x? c. What is the probability that x is between 28 and 37?
Briefly explain the tools that governments have to move the economy from either a recessionary or expansionary gap to the long run equilibrium level.
Illustrate what would happen to the demand for iPhones if consumer income rises by 10%. Be specific. Are iPhones a normal or an inferior good.
Write a brief explanation of each of the following terms. import tariff, effective rate of protection
Explain how much is the market paying per share for growth opportunities. Exzplain what is your expected one-year holding period return on HP stock.
Suppose that long term interest rates in the economy were increasing due to strong economic growth and demand for loans in the world economy. Meanwhile suppose that the Fed was holding down its federal funds rate target. What would probably be hap..
Consider the table below the supply schedules for three competitive firms, each producing honey. These three firms make up the overall industry-Calculate the total industry supply at each price and fill in the table.
You observe that output is above full-employment output. Politicians are discussing about the possible reasons. One party claims that this is due to a drop in world oil prices.
Illustrate role do property rights play in creating common property resources? Why are common property resources subject to market failure due to nonexcludability.
the table shows the demand schedule for two consumers of lemonade, Eli and Molly. Assume that these are the only two consumers in the market. Use the multi-point line tool to plot the market demand curve for lemonade.
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