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In a one-shot game, if you advertise and your rival advertises, you will each earn RM5 million in profits. If neither of you advertises, your rival will make RM4 million and you will make RM2 million. If you advertise and your rival does not, you will make RM10 million and your rival will make RM3 million. If your rival advertises and you do not, you will make RM1 million and your rival will make RM3 million.
a. Write the above game in matrix table.
b. Do you have a dominant strategy?
c. Does your rival have a dominant strategy?
Opportunity cost is cost of a different that must be forgone in order to pursue a definite action. Put another way, the advantages you could have received by taking an alternative
how to solve problems using derivatives ?
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Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.
What is identity economics? How does identity economics help to explain economic questions that standard economics fails to address?
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