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Wayne Enterprises had several salespersons that worked for a contract salary. To encourage them to make more sales, Wayne offered a $5,000 bonus to the salesperson who had the highest total dollar value the following month. That next month, Wendy had the highest sales. When Wendy received her next paycheck, there was no bonus. If Wendy sues Wayne to recover the $5,000 bonus, the likely result will be A. Wendy will lose because she already had a contract so there was no consideration B. Wendy will win because the offer of a bonus for high sales constituted consideration because it entailed additional performance by both parties C. Wendy will lose unless the promise was in writing. D. Wendy will win because of moral consideration

Question 1 Consider a first-price sealed bid auction of a single object with two biddersj = 1,2 and no reservation price. Bidder 1′s valuation is v1 = 2, and bidder 2′s valuation isv1 = 5. Both v1 and v2 are known to both bidders. Bids must be in whole dollar amounts.In the event of a tie, the object is awarded by a flip of a fair coin.(a) Find an equilibrium of this game.(b) Is the allocation of your answer to (a) efficient?

QUESTION 8 S1, S2, S3 and S4 are UIUC students who just graduated. They each have a poster of Dolly Parton that they are willing to sell. B1, 82, B3 and B4 are new students at UIUC and want to buy Dolly Parton postern for their rooms. The tables below give the minimum selling prices and maximum buying prices for each student. Minimum Selling Prices Maximum Buying Pricen X+$9 S1 $10 B1 S2 $11 B2 X+$14 S3 $20 B3 X+$16 S4 $25 B4 X+$26 If X is negative $5 (.e., Xu-$5), what is the market-clearing price? Note: Do not include the dollar sign,

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the strategy profile (A,CF) is In this game, the strategy profile (A,CE) is In this game, the strategy profile (B,CE) is In this game, the strategy profile (B,DF) is In this game, the strategy profile (B,CF) is Note:- Please refrain from offering handwritten solutions. Please ensure that your response maintains accuracy and quality to avoid receiving a downvote. Take care of plagiarism. Answer completely. You will get up vote for sure.

Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Bargaining power of customers is likely to be the lowest for markets involving Apparel Automobiles Patented drugs Insurance

Dataware is trying to determine whether to give a $10 rebate, cut the price $6, or have no price change on a software product. Currently, 40,000 units of the product are sold each week for $45 apiece. The variable cost ofthe product is $5. The most likely case appears to bethat a $10 rebate will increase sales 30%, and half of all people will claim the rebate. For the price cut, the most likely case is that sales will increase 20%.a. Given all other assumptions, what increase in sales from the rebate would make the rebate and price cut equally desirable?b. Dataware does not really know the increase in sales that will result from a rebate or price cut. However, the company is sure that the rebate will increase sales by between 15% and 40% and that the pricecut will increase sales by between 10% and 30%.Perform a sensitivity analysis that could be used to help determine Dataware’s best decision.

QUESTION 10 YouTube generates revenue by showing ads to consumers who watch videos on its website. Suppose that, for each person watching a video, YouTube receives one dollar in ad revenues (P=1). Arthur is a professional video-game player. He plays the video-game "Fortnite" and uploads his video to YouTube. The number of people who will watch his video depends on Arthur's effort producing the video and increasing its quality. The number Q of viewers as a function of Arthur's effort "e" is given by the function Q= Be. Arthur's offort cost is 202. His utility equals his income minus ys effort cost. To give incentives to Arthur to create better videos and attract more viewers, YouTube decides to pay Arthur a bonus b for each person watching his video. YouTube also has an operational cost 30 Operational cost - 32 which is the cost of maintaining its internet servers and administrative staff. YouTube's profit equals the ad revenue minus the payment to Arthur and the operational cost. Find…

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Suppose a firm can earn the following level of profit depending on nature as well as employee effort as shown below, how much total profit will the firm make if it uses fixed wage to pay the employee and if it uses bonus sharing respectively. There is 20% chance of bad luck and 80% chance of good luck. * Poor luck Good luck Low effort (a=0) $30,000 $40,000 High effort (a=1) $40,000 $80,000 32;48 None of the above 38;72 35;60

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Buyers of used mopeds value good ones at $8,200 and value bad ones at $6,000. Sellers value good ones at $7,050 and value bad ones at $5,550. Assume buyers cannot observe type prior to purchase, but believe fraction x are good ones. What is the minimum fraction x needed in order to prevent market failure, where some mopeds don't trade? Group of answer choices  0.51 0.48 0.44 0.4

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- A group of four players i = 1, 2, 3, 4 are involved in a joint project. Each player chooses effort level a,, which represents her contribution to the project. This effort must be between zero and 1:0 a 1. The outcome of the project is 4(a₁ + a2 + a3 + a4). Players divide the outcome equally amongst themselves. Each player incurs a cost c(a) = a?. a) The contributions a₁ = d₂ = a3 = a4 = 1 constitute a Nash Equilibrium. b) The contributions a₁ = 2 = a3 = a4 = ½ constitute a Nash Equilibrium. c) The contributions a₁ = a2 = a3 = a4 = 0 constitute a Nash Equilibrium. O ◆

Faris Co. and Fahad Co. are rivalry in Bahrain's market. Suppose the payoff to each of four strategic interactions are as follows: Faris Co. Response Action Reduce Price Don't Reduce Price Gain = BD 30,000 Reduce Price Loss = BD 1,000 Don't Reduce Price Loss = BD 5,000 No loss or gain The probability of Faris Co. to reduce price is 95 % (otherwise, probability of Faris Co. for not reducing price is 5 %), assume that Fahad Co. choose "reduce price" strategy a. What is size of loss from "reduce price" for Fahad Co.? b. What is size of gain from "don't reduce price" for Fahad Co? c. What is the expected payoff of a "reduce price" for Fahad Co.? and give an example (application) of d. Explain the concept of 'game theory' game theory Fahad Co. Response

I need solution to only part b)

Problem # 4  Rail Tours, Inc., sells packaged tours on rail lines, including gourmet meals and a reserved bed. The most popular tours are in the autumn, when foliage colors are at their peak. The overnight package for Saturday and Sunday morning are especially heavily booked. A market survey firm has just completed a study in which they conclude that if the package cost is $200 per couple, then Rail Tours can expect to sell 400 spaces on a typical Saturday. If the price is raised to $225, then unit sales will drop to 390. If the price is raised further to $250, unit sales drop to 380.    a) From the data given, write down the demand equation and determine its intercepts. Are there any precautions needed when operating at the extreme ends of the demand curve?    b) The survey firm also reports that if per capita income changes, Rail Tours can expect a large change in bookings. In particular, if per capita income falls by 1%, then bookings will tend to fall by about 2%. Are tour packages…

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Answer all questions, show all working.  Marta and Sara are two students that devote part of their free time to doing surveys for a market research company. The income obtained from this activity depends on the number of surveys they do, bearing in mind that the girls may freely choose the interviewees. As they both live in the same neighborhood in case, they just interview their neighbors (N), they compete for the same people and their monthly income is about 250 Euros. If they both choose to go to other neighborhoods of the city and interview strangers (S), they can carry out more surveys and both their incomes would be 400. If one of them decides to go and interview people in another neighborhood but the other one does not, the former will obtain income for 500, and the latter for 300, and vice versa. After receiving the order from the company, Marta is always the one who starts to work first. Sara has information about the places where Marta has done the surveys. Please:…

Question 28 The concept of adverse selection is demonstrated by the following statement. Group of answer choices People who buy health insurance tend to be those who are less healthy. People who buy health insurance tend to be those who are more healthy. People who buy health insurance will tend to act more carefully because of it. People who buy health insurance will tend to act in a riskier manner because of it.

The research department at a manufacturing company has developed a new process that it believes will result in an improved product Management must decide whether to go ahead and market the new product. The new product may or may not be better than the old one. If the new product is better and the company decides to market it, sales should increase by $50,000. If it is not better and they replace the old product with the new product on the market, they will lose $24,000 to competitors. If they decide not to market the new product, they will lose a total of $30,000 if it is better and just research costs of $10,000 if it is not. Answer parts a through c below. (a) Prepare a payoff matrix. (Type an integer or decimal for each matrix element. Do not include the $ symbol in your answer.) (b) If management believes there is a probability of 0.4 that the new product is better, find the expected profits under each strategy and determine the best action. Select the correct answer below and fill…

Country A is rich and country B is poor. Consequently, residents of country B want to immigrate to country A. The trouble is that there is no legal way to do. So they attempt to cross the border Illegally. There are 3 border crossings at which a resident of B may attempt to cross the border. An attempt is successful if there is no border guard at the crossing, and unsuccessful if there is a guard at the crossing. Country A has only 1 border guard. Model the game in which a resident of country B attempts to enter country A at one of the 3 border crossings, and the government of country A chooses to post its border guard at one of the 3 border crossings. In this game, each player has 3 pure strategies. A) What are the ultimate outcomes in this game? B) What are the player's Bernoulli Payoffs? C) Find a mixed strategy equilibrium of the game.

Question- In Parkland County there are three residents: ANDREW, BETH, CATHY. They exercise different amounts and have different marginal        benefits for any given size of public park. The marginal benefits for each person are: MBA (A) =6-A/4; MBB (A) =14-A; MBC (A)=15-3A, where subscripts denote each person. The marginal cost of A acres of park is 18. Suppose the county government informs the voters that for each unit of A, each person will pay a tax of $6. What would be each person's preferred size of A? What would be the size of A that would result from voting? Suppose that the government of Parkland decides that it wants to provide the efficient size of park. Further suppose that the government decides it is now willing to charge different people a different tax to meet this goal. What would be the size of A ? How much will the government charge each person?

Government support for the development of Covid-19 vaccines took two different forms.  Some firms accepted grants (a.k.a, direct monetary support) for vaccine development and testing.  As a condition of the grant, the government has options to purchase a first and specific number of vaccine doses.  Other firms chose not to accept grants.  Instead they negotiated advanced-purchase agreement to support pre-approval manufacturing of vaccines.  The purchase agreement stipulates that payment will be made upon delivery of the pre-specified number of doses. 1.  Is the successful development and delivery of a vaccine for Covid-19 virus risky or an uncertainty? 2.  In the case of direct support agreements, who bears the cost of failure? 3.  In the case of advanced purchase agreements, who bears the cost of a failure? 4.  Pfizer was the first firm to have its vaccine authorized for use in the U.S.  It did not accept a grant to support development and testing, but the Pfizer did negotiate an…

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