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some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is, as long as everyone chooses the same side. Otherwise, everyone may get hurt.
a. does either player have a dominant strategy?
b. Is there a Nash equilibrium in this game? Explain.
c. Why is this called a cooperative game?
Provide an example of income effect and substitution effect in regards to supply of labour. Illustrate what is opportunity cost of work in this case
She put her savings into mutual fund that paid a nominal interest rate of 7 percent a year. CPI was 165 at beginning of year and 177 at end of year. Illustrate what was real interest rate that Sally earned.
The two firms have the same demand curve P=100-4Q, Marginal cost of Firm 1 is 5 and for firm 2 is 10.
What is expected salary of a CEO who has been with company for years. Construct a 95% confidence interval on prediction for average CEO who has been with company for 10 years.
Discuss how each of the 4 factors contributed to the elasticity of the good.
Elucidate its advantages and disadvantages and suggest appropriate policy prescriptions to deal with the potential shortcomings.
Using the results obtained in part (b) and part (c), derive the monopolist's short-run profit-maximizing level of output.(e) Determine the price charged by the profit-maximizing monopolist and the amount of profit earned.
The Wall Street Journal's experience after an increased its price to 75 cents. Illustrate what implicit assumptions are the publisher and the analyst making about the price elasticity.
Use the endogenous growth model to determine the effects of this on the paths of aggregate consumption and aggregate output overtime.
Who are the characters Assumed to represent. Illustrate what did they want.
What is the employment rate? B. Suppose the government sets a minimum hourly wage of $8. How many workers would lose their jobs?
Government data that computes averages, such as the consumer price index, are applicable to everyone.
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