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Suppose that you and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to do as little work as possible. Four possible decisions are the following :
1) you work and your classmates work :(A grade but no fun)
2)you shirk but your classmates work : (B grade but fun )
3)you work but your classmates shirk :( B grade and no fun )
4)you and your classmates both shirk : (D grade and fun )
Assume that having fun is your normal state, but having no fun is as unpleasant as receiving a grade that is two letters lower.
Question:
a) Write down the decision box which combines the letter grade also the amount of fun you have into a single payoff for each outcome.
b)If neither you nor your classmate knows how much work the other person is doing, what is the likely outcome? Does it matter whether you are likely to work with this person again? Explain your answer.
Analyze the equilibrium cost and quantity in this case and label it on your graph. Moreover calculate, deadweight loss, consumer surplus as well as industry profits.
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Illustrate what the assignment should include. The bureau of labor statistics reported that in the second quarter of 2008 the working age population.
a disgruntled college graduate sues her school on grounds that her tuition payments did not land her the good job she was expecting when she started there. Courts invariably throw out cases like hers.
Which of the subsequent is a Keynesian conclusion about how adjustments occur in a recessionary gap?
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