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Player 2
C
B
A
1,2
3,2
2,3
a, b
Player 1
a. If B is a dominant strategy for Player 1, what do we know about a?
b. If C dominates D for Player 2, what do we know about b?
c. If (B,D) is a Nash equilibrium, what must be true about a and b?
d. What values, if any, make (A,C) a Nash equilibrium?
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price effect
Type of total outlay
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assignment
what is market economy and how it solve the central problem
Individual Demand * The Individual Demand Curve - Two significant Properties of Demand Curves - 1) The level of utility which can be attained changes while moving along
Comparison with Other Countries: The basic purpose of this type of comparison is that: (i) it helps us to know the potentials of growth that can be built up in an economy,
The price elasticity ( ε ) of demand for Q has been estimated at -0.5. Current consumption Q* is 70 units and market price (P*) is 0.70. a. Fit a linear demand curve to the obs
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