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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?
Controller of Credit The principles of credit control by the central bank were discovered and enunciated after the publication of Bagehot Lombard street in 1873. Even after 187
outline of this assignment
Uses of Indifference Curve Analysis Indifference curve analysis is useful when studying welfare economics as follows: They are used to indicate the amount of income and
exaplain cournot''s duopoly model with graph?
Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for their sensitive test equipment
Rail Tours sells packaged tours on rail lines, including gourmet meals and a reserved bed. The most popular tours are in the autumn when colors are at their peak. The overnight pac
types of elasticity
It can be geometrically proved that two elasticity are equal, which is., QB=RD Let's first consider ΔAOB. If we draw a horizontal line from point Q to intersect the vertical axis a
“Managerial economics involves use of economic analysis to make business decisions involving the best use of a firm’s scarce resources” Explain the statement with suitable example.
Advantages of a Free Market System Incentive: People are encouraged to work hard because opportunities exist for individuals to accumulate high levels of wealth. Choice
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