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Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
Describe one case that fits the story of Prisoner Dilemma in not more than 10 sentences. It should fit the following features and it should not be any of the examples we already ta
Mathematical Presentation of Utility maximisation: Consumer's objective is to maximise her utility by solving UMP. To solve UMP, we set the Lagrange function of the correspond
#questioSuppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in au
Shares: Financial assets that represent ownership of a small proportion of total equity (or net wealth) of a corporation. Shares can be sold and bought on a stock market. Slaver
explain normal profits
Suppose there are two countries (home and foreign) and that two goods can be produced within those countries: machinery (M) and bread (B). Marginal product of labor (MPL) is given
What is Rubenstein''s model in Game theory? A Rubinstein bargaining model is mainly refers to class of bargaining games which is main feature of alternating offers through an infi
Term Paper: A final paper that focuses on the course content, applied in the setting of your current or past employer, will be due in Module. In this paper you will focus on the fo
what is risk diversifications
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