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In a two-player, one-shot, simultaneous-move game, each play can choose strategy A or strategy B. If both players choose strategy A, each earns a payoff of $400. If both players choose strategy B, each earns a payoff of $200. If play 1 chooses strategy A and player 2 chooses strategy B, then player 1 earns $100 and player 2 earns $600. If player 1 chooses strategy B and player 2 chooses strategy A, then planer 1 earns $600 and player 2 earns $100.
Write this game in normal form.
Calculate national income. if there were 80 million people in this country, what would the GDP per-capita be? if all prices were to double overnight, what would happen to the values of real and nominal GDP? nominal____ real gdp____
Describe conceptually and graphically the process of the market forces that drive the deviant price levels (higher and lower than equilibrium price levels).
(a) Alalyze full the assumption of "homocedasticity" of a CLRM. Moreover, which are the differences wit heteroscedasticity? (b) Analyze fully the assumption of specification bias and use an example to show your intuition.
Elucidate which firm's product provides the greatest value-created.
Rhonda Hill Rhonda Hill (unmarried) is employed as an office manager at the main office of Carter and Associates CPA firm. Rhonda lives in a home she purchased 20 years ago. Rhonda's older cousin Mabel Wright lives with Rhonda in the home. Mabel is r..
State the economic meaning of the following equation in a sentence with only words and no mathematical references: (w) ∂/∂w (ln (xb3(p, w))) = −1 You need to do the calculus to solve this little puzzle. Show all your work. (xb3(p, w) is the generic d..
In recent years the exchange rate of the $ has been noticeably high against the yen. If for some reason investors around the world now decide that this increase is a temporary phenomena and that the $ will fall relative to the yen in coming months(th..
What are the characteristics of perfect competition, and does is exist in the real world?
What is the effect of the $400 increase in government spending and a $600 tax cut on the following indicators, ceteris paribus: (1) the change in output (GDP), (2) annual budget deficit, (3) in what context should the policy be used. Use a mpc of .75..
Suppose the cross-price elasticity of demand between goods X and Y is -4. How much would the price of good Y have to change in order to change the consumption of good X by 10 percent?
The board of a company has to elect a new CEO. Three members are on the board, 1,2,3. After a first round of selection, three candidates are left: α, β and γ. Preferences are as followed: Consider the game when all weakly or strictly dominated strate..
Utilitarianism is a deceptively simple moral theory that has quite a bit of intuitive appeal. But it also has its share of problems. How plausible do you find this account of the right making feature of acts? Clearly and carefully explain your answer..
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