Q: The Federal Reserve determines that the equilibrium level of output is above full employment and the...
A: Inflation is the rise in the price of practically all goods and services in the economy. It has an a...
Q: 1 3 8. 7. 12 12 y 11 17 18 19 16 16 19 23 23 Ex^2 = Your answer Ey^2 = ΣΥ2 Your answer Σxy= - Your a...
A: X X2 Y Y2 XY 1 1 9 81 9 3 9 11 121 33 8 64 17 289 136 7 49 18 324 126 6 36 19 361 114 5 ...
Q: List institutions that influence international environmental policy and describe how nations handle ...
A: The policies, programs, or activities that lead to an improvement in the life quality, and well-bein...
Q: what are the disadvantages of collusion in economics
A: Collusion, secret agreement and cooperation between interested parties for a purpose that's dishones...
Q: Consider the following numerical example of the IS-LM model: C = 191 + 0.62YD | = 143 +0.13Y-1,104i ...
A:
Q: Discuss it objectively
A: Through the movement of air in the atmosphere, the flow of water in rivers, and the migration of ani...
Q: 13. The inelasticity of demand for gasoline in the short run makes no theoretical sense. b. makes se...
A: Elasticity measures the responsiveness of quantity demanded to changes in price level.
Q: Which of the following is not a function of the central bank? Select one: a. The issuance of bank no...
A: Federal reserve bank, Fed is the central bank of US.
Q: Define externality. Also explain negative and positive externality.
A: Externalities occur when the production or consumption of a good has an impact on third parties who ...
Q: All of the following have been used in the past as commodity money EXCEPT: O a. Salt. O b. Gold. O c...
A: In the barter system economy, people have used salt, gold, and silver as a medium of exchange or com...
Q: a. What factors determine the elasticity of resource demand? Ease of resource substitutability, elas...
A: a. The elasticity of resource demand is determined by whether or not the resource has close substitu...
Q: rency board or dollarization? Select one: a. Loss of independent monetary policy and flexibility in ...
A:
Q: 4. A profit-maximizing firm has cost function C(Q) = 500 + 10Q + 200. 4a.What is the firm's marginal...
A: (4a) C = 500 + 10Q + 20Q2 -------------> Cost function Differentiate C w.r.t Q to get MC => ...
Q: Table 22-2 Use the table of expected cost and revenue data for the Tuckers Tomato Farm below to answ...
A: In perfectly competitive market, firms are price takers so price is constant. Price is equal to marg...
Q: (KEY QUESTION) Consider the following strategic interaction between two Australia telecommuncation c...
A: In many problems, decision-making is required in a competitive situation where there are two or more...
Q: cost of the machine is P140 000 and has a useful life of 8 years. If the salvage value is P10 000; 1...
A: Calculation of Depreciation by Double Declining method Sum of year digit method Declining balance ...
Q: Capital grows when ____ there is no trade. taxes exceed spending saving exceeds depreciation there ...
A: Capital here can be defined as wealth accumulation, if an individual or businessman has enough capit...
Q: PROBLEM SITUATION: An employee decided to invest in a trust fund which gives an interest rate of 2% ...
A: Interest Rate refers to the percentage of a lump sum of money that needs to be paid as cost of borro...
Q: Which of the following people would be considered frictionally unemployed? Select an answer and subm...
A: Meaning of Full Employment: The term full employment refers to the situation under which all the w...
Q: Brandon purchased a car using a 5-year car lease at 5.80% compounded quarterly that required her to ...
A: Compound interest is basically the accumulated interest over the entire time period of the investmen...
Q: Your uncle has just purchased a wheat farm and wants your advice on how he should price his product....
A: 1. There are large number of sellers. There are large number of buyers. 2. All the sellers sell homo...
Q: If a country's domestic price of lumber is below the world price of lumber, the country will likely:...
A: Outflow of goods and services from one country to rest of world, is known as the export.
Q: per capita? a) GDP per capita and growth in GDP per capita rise b) GDP per capita and growth in GDP ...
A: From 1346-1353, the black plague ravaged Europe. It is the most deadly pandemic in history, causing ...
Q: Which of the following is NOT a tool of monetary policy? Select one: a. Discount rate b. Reserve req...
A: Monetary policy is used to change the money supply in the economy.
Q: Which of the following statements is correct regarding the model of the labour market? A) Labour-sa...
A: When talking about labor market, it is the place for workers and employers who interact with each ot...
Q: An increase in the standard of living of citizens of a country can be best measured by the growth ra...
A: Per capita nominal GDP:- Nominal GDP per capita=Nominal GDPPopulation Nom...
Q: Use the green line (triangle symbols) to show the long-run aggregate supply curve (LRAS;) after the ...
A: According to real business cycle theorists, INCREASE IN consumption resulting from the major product...
Q: Consider a market with 3 Cournot firms producing a homogeneous product. Consumer demand is given by ...
A: When there are 3 firms each firm tries to maximize its profit given the other firm's response. For e...
Q: Suppose a government report about a country's employment situation reveals the following data (all v...
A: 1) If the country in question is the United State, these data are obtained from Household Survey. 2)...
Q: 1. What are the basic functioning principles of WTO that have an impact on the problems of standardi...
A: To promote economic growth and development, the World Trade Organization (WTO) provides a platform f...
Q: Explain the difference in the distribution mechanism for goods and services in the market and comman...
A: As we know, in the market system, the factors of production are owned by private individuals. Wherea...
Q: Label the following statements as true, false or uncertain (A). The gold standard was an internatio...
A: Since you have asked a multi-part question and according to the policy, we can only solve the first ...
Q: Question 18 If the United States was experiencing a recession, Congress might Increase spending and ...
A: Recession decreases the number of economic activities in the country
Q: hile in an Inflationary period, we would use
A: The Long run Aggregate Supply curve decreases, then the price level will increase and the quantity w...
Q: Complete solution for full credit. Mariel owes P35,000 in 5 months with interest at 9% and another P...
A: Introduction 1st 5 months payment value of Mariel's money: = P (1 + rt) = 35,000 ( 1 + 9100 × 512) =...
Q: When a small country imposes a tariff on an imported good, domestic consumers bear of the statutory ...
A: In an economy, statutory burden refers to the tax that actually paid by the market participant, and ...
Q: Consider the nature of macroeconomic equilibrium. If, at a particular price level, aggregate output ...
A: Economic equilibrium is the combination of economic variables ( quantity and price ) toward that nor...
Q: Explain with the aid of well labelled diagram(s) with before and after transitions whether the state...
A: Answer: Introduction: The indifference curve of perfect substitute goods is a liner downward sloping...
Q: what does this mean in terms of the interrelationship of supply, price, and demand on two items of y...
A: Demand refers to the different levels of quantity of a good that consumers are willing to purchase a...
Q: plant has sufficient capacity to manufacture any combination of four different products (A, B, C, D)...
A: Introduction Marginal cost of machine 1 = variable cost + material cost = 2 + 4 = $6 Total MC of ma...
Q: Explain how human population, affluence, and technology affect the environment
A: Deforestation, pollution (of the land, air, and water), habitat loss, and increased creation of elec...
Q: An investor has £13,000 in a fund generating a 5% return, with a 2.5% initial cost and an annual cha...
A: Initial cost @ 2.5%=13000*0.025=325 Fund value at the beginning=(13000-325)=12675. Annual Charge=0.5...
Q: Exchange Rate Determination - Short v. Long Run The nominal money demand for the US is given by the ...
A: Introduction Money demand has given as the function of liquidity preference, output and price level ...
Q: 4. A profit-maximizing firm has cost function C(Q) = 500 + 100 + 200?. 4a.What is the firm's margina...
A: The marginal cost curve above the average total cost curve is the long-run supply curve for a perfec...
Q: Which world region has the lowest population growth rates?
A: Population growth rates of the various regions in the world are showing various trends. Some region ...
Q: Adam operates a small shop specializing in party favors. He owns the build- ing and supplies all of ...
A: The Accounting profit are the profits that are calculated by deducting the Total explicit cost from ...
Q: Pick TWO answers. a. Wealth can be measured as a flow over time. b. Disposable income measures incom...
A: Wealth refers to the accumulated economic resources which can be measured in terms of real income. D...
Q: Assume the following consumption schedule: C=20+0.9Y, where C is consumption and Y is disposable inc...
A: The given consumption schedule is C=20+0.9Y Where C= Consumption Y is the disposable income The aut...
Q: 14. A lemon-growing cartel consists of four orchards. Their total cost functions are: TC, = 20 + 50 ...
A: Sorry, as per the rules we do not provide hand written solutions. We calculate the TC from the Cost ...
Q: In| a Stackelberg duopoly where the inverse market demand function they face is P= 62 4.5Q. The cost...
A:
| Push | Not | |
| Push | 4,2 | 2,3 |
| Not | 6,-1 | 0,0 |
Would any other solution other than Nash Equilbrium approach work? Why?
Step by step
Solved in 2 steps with 1 images
- Two friends, Khalid and Mahmood, are going to a watch a world cup football match. They play a simple game in which they hold out one or two fingers to decide who will pay for the other's ticket. Khalid wins if the fingers held out add up to an even number; Mahmood wins if the fingers held out add up to an odd number. The price of the ticket is 25 OMR. Construct a payoff matrix for the game. Is there a unique Nash equilibrium in this game? Which strategy should a player use to maximize her chances of winning the game?Paramter y = 0 What is the highest payoff any player can receive in any subgame perfect Nashequilibrium of the repeated game?Normal-Form GameFind all Nash equilibria of the following two-player game. Provide necessary computation.
- Consider the following voting game. There are three players, 1, 2 and 3. And there are three alternatives: A, B and C. Players vote simultaneously for an alternative. Abstaining is not allowed. Thus, the strategy space for each player is {A, B, C}. The alternative with the most votes wins. If no alternative receives a majority, then alternative A is selected. Denote ui(d) the utility obtained by player i if alternave d {A, B, C} is selected. The payoff functions are, u1 (A) = u2 (B) = u3 (C) = 2 u1 (B) = u2 (C) = u3 (A) = 1 u1 (C) = u2 (A) = u3 (B) = 0 a. Let us denote by (i, j, k) a profile of pure strategies where player 1’s strategy is (to vote for) i, player 2’s strategy is j and player 3’s strategy is k. Show that the pure strategy profiles (A,A,A) and (A,B,A) are both Nash equilibria. b. Is (A,A,B) a Nash equilibrium? Comment.Two firms bid for a contract to build a university building. Their construction costs are independent and uniformly drawn from [0,1]: Both bidders submit their bids si- multaneously. The winner is the bidder who submits a lowest bid. Tie-breaking rule is random. This kind of bidding game is called i'reverse auction' because the bidders bid for the right to provide a service and the winner is paid for the service. The FCC in 2017 has adopted similar auctions designed to repurpose spectrum for new uses. (a) In the first auction, the winner gets paid the loser's bid. For example, if the winner's cost is 0.5, his bid is 0.56, and the loserís bid is 0.6, then the winner gets the contract and the university pays the winner 0.6. The winner's net profit from the contract is 0.6-0.5 = 0.1. Solve for a Bayesian Nash equilibrium of this auction. What is the equilibrium bid of a firm bid if his cost is actually 0.5? (b) In the second auction, the winner gets paid the his/her own winning…Is the set of SPE of any extensive form game with perfect information is identical to the set of Nash Equilibria of the induced normal form game? If yes, provide a proof. If no, provide an explanation by illustrating a game. [Maximum word limit for this question is 80 words.]
- Consider the game Ms. Bennet and Mr. Darcy play in ‘First Impressions’, Selected Set V. Suppose that Ms. Bennet prefers to meet Mr. Darcy (a = 0) with probability p. Further suppose that: - The ‘meeting Ms. Bennet’ plays Ball with probability q (and Dinner with probability 1 − q); - ‘avoiding Ms. Bennet’ plays Ball with probability r (and Dinner with probability 1 − r); M - r. Darcy plays Ball with probability s (and Dinner with probability 1 − s). Write down the strategic form game and find for all values of p ∈ (0, 1) the Bayesian-Nash equilibria in mixed strategies.Assume that both Apple and Samsung have a marginal cost of 20. Apple’spayoff function is VA(PA, PS) = (PA - 20)(100 - 2PA + PS),whereas Samsung’s payoff function is VS(PA, PS) = (PS - 20)(100 - 2PS + PA).Find all Nash equilibria.q60c- Is the Nash equilibrium the best outcome for this problem? Explain
- Assume that the effective security level is now determined by the highest (not the lowest) security measures chosen by airlines. Letting max{s1, . . . , sn} denote the highest of the airlines’ strategies, we find that airline i’s payoff is now 50 + 20 x max{s1, . . . , sn} -10 si.Assuming the same strategy sets, find all Nash equilibria.1 \ 2 a b c A 2,2 2,1 0,0 B 3,1 3,0 1,3 C 1,3 3,2 3,1 a) Eliminate iteratively all strictly dominated strategies. b) Find all Nash equilibria. c) What is the player 1’s best response to the strategy σ2 = (z , ½ , ½ - z) of player 2, where z is a parameter that lies in the closed interval [0, ½]. d) Compute the payoffs to player 1 and to player 2 for their respective strategy profiles σ1 = (0,½,½) and σ2 = (½,0,½).Consider a Common Value auction with two bidders who both receive a signal X that is uniformly distributed between 0 and 1. The (common) value V of the good the players are bidding for is the average of the two signals, i.e. V = (X1+X2)/2. Compute the symmetric Nash equilibrium bidding strategy for the second-price sealed-bid auction assuming that players are risk-neutral and have standard selfish preferences. Furthermore, you may assume that the other bidder is following a linear bidding strategy. Make sure to explain your notation and the steps you take to derive the result.
