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Topic: Game theoryIn a finitely repeated prisoner's dilemma what is the optimal strategy for each player? Prisoners' dilemma is one of the most celebrated topics in whole game theory. In that two agents engage in a game with payoffs that has a Nash equilibrium that shuns cooperation. Here we want to investigate the possible outcome if these agents play with each other again and again.
An industrial machine costing $14,000 will produce net cash savings of $5,000 per year. The machine has a five-year useful life but must be returned to the factory for major repairs after three years of operation. These repairs cost $5,000. The compa..
Prepare a income statement for the 2018 accounting period. Prepare a statement of changes in stockholders' equity for the 2018 accounting period.
Compare and contrast the English and Dutch auctions, especially with regard to their strengths and weaknesses at uncovering the real price/value of an item.
Consider the industry for making plastic cups. The process of producing the cups generates pollution. Assume the marginal damage function of pollution is given by MD = 4E, where damages are measured in dollars and E is the level of emissions. Assume ..
Firm A makes and sells motor cycles. The total cost of each cycle is the sum of the costs of frames, assembly and engine. The firm produces its own engines according to the cost equation. Calculate the MC of producing an additional engine. Calculate ..
You just bought a 10-year-old house. The house is located in a expensive neighborhood. You do have to do some repairs. How does that transaction influence GDP? If the house is purchased with the assistance of a real estate agent, is this payment incl..
Compute the resulting dead weight loss (DWL) inefficiency from the monopolistic optimal outcome.
Ilustrate what is the market price and level of each firm's output in the short run. How much profit does each firm make.
Make a list of businesses that provide goods and services that you or your family members use in a typical week.
List and explain the characteristics of monopolistic competition. Describe and explain a monopolist’s output decision. Fill in the blanks: Each firm in an oligopoly has an incentive to _____ the other firms, so price fixing will be unsuccessful unle..
In a bag, there are six red marbles and four Green Marbles. The red marbles are marked with the numbers one, two, three, four, five, and six.
However, when faced with junk food, Phil has trouble refusing. How can we characterize Phil's preferences?
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