Q: 1. The following is cost information for the Creamy Crisp Donut Company. Entreprencur's potential…
A: An economic profit is the difference between the revenue a commercial entity has received from its…
Q: Compared to a good with no externalities, a good with a negative externality will appear to have…
A: Externality:- An externality can be explained as an expense or benefit incurred or gained by a…
Q: Use the Phelps-Friedman model to trace through the effects of a shock involving an increase in the…
A: IS LM model shows the two Market in equilibrium simultaneously . Goods market and money market . At…
Q: If the price of the product sells for $1 and the Wage about the workers this firm is hiring?…
A: TP is the total product produced by the using labour input where capital is constant. TP initially…
Q: Describe the relevance of taxation for understanding the American welfare state. How have…
A: American welfare state An American welfare state is formed by the government that is formed to…
Q: Solve the Nash equilibrium for the following game (P1,P2) L R (2,7) (3, 1) T (2,4) (4, 6) O (T,R) O…
A: Nash equilibrium is a strategy under which no player has any incentive to deviate.
Q: 1. In an OLG model with money: Each gen picks 12 banans when young, 4 bananas when old. Central…
A: * ANSWER :- (1) From the given information the answer is provided below as ,
Q: CASE STUDY: Since becoming an independent nation in 1965, Singapore has been on the rise…
A: Globalization, is the course of connection and reconciliation among individuals, organizations, and…
Q: Compare between the corporation and the joint stock company and compare between the LLC and the…
A: In certain ways, a corporation and a joint stock company are different. A corporation is founded by…
Q: Question 1 Given the following data on simple closed economy: C = 10 +0.75 Y %3D I= 20 G= 40 where C…
A: Equilibrium in the goods and services market occurs where aggregate expenditure equals income
Q: Question 25 Macroeconomic factors used as inputs in multifactor models include: O Earnings growth. O…
A: When talking macroeconomic factors, it can be said that these are the economic variables, which…
Q: Answer True or False to the following statement. Explain your answer. “The interest parity…
A: In a foreign exchange market equilibrium, the loan cost equality condition infers that the normal…
Q: [CLO-1] The options for investing money are represented as the following: 1. 5% APR compounded…
A: Effective annual rate = [1 + i/n]n - 1 Where i =Interest rate, n = Compounding periods.
Q: Suppose that every consumer is on his/her budget constraint where MRS = 0.1, the price of good X is…
A:
Q: If the actual exchange rate for the euro value of the British pound is less than the exchange rate…
A: The rate that depicts the rate of one currency being measured in terms of another currency for…
Q: 24. Consider adverse selection in the car insurance market. Drivers are either risky or safe. The…
A: Insurance refers to the financial instrument that helps people in times of emergencies such as…
Q: QUESTION 14 Consider the market for PlayStation video games. Ceteris paribus, what effect will a…
A: Note: You have uploaded two questions at a time. Hence, we shall solve only the first one for you.…
Q: Q = 4L + 8K = 50K04L0.6 Q = [K0.5L05]3
A: The marginal rate of technical substitution (MRTS) measures the rate at which one input need to…
Q: Suppose the lowest level of the output gap during the Great Recession was -6 percent in July 2009.…
A: Given information Output Gap=6% Multiplier value=1.8 Monetary policy is constant and not used to…
Q: An industry contains two firms that have identical cost functions C(q)=10+2q. The inverse demand…
A: When two firms' production decision depends on quantity sold by each other, they are in Cournot…
Q: If you worked on a "macro level" within Human Services, what are some changes you would try to…
A: Macro-level human services will create an effect on a large scale, it will provide solutions on a…
Q: In a country where apples are produced and exported but not consumed, a change in the price of…
A: GDP deflator measures the price of all goods and services produced by an economy. CPI measures the…
Q: Consider the input output table below Table (Inter) final Total (Agric) (Manuf) (Mining)demand…
A: Given information
Q: b) Suppose that the current spot exchange rate of U.S. dollars for Australian dollars, Suss/As. is…
A: For different time periods, the value of the domestic currency varies on the spot foreign exchange…
Q: (c) Consider the reduced game in Table 4. Calculate the payoff for each player using the following…
A: Given information
Q: 9. If the reserve ratio is 10 percent, then $600 of additional reserves would ultimately generate a.…
A: "Reserves create money supply. With additional reserves and required reserve ratio change in money…
Q: Use the table below to answer the following answers. Assume that MARR = 10%. The alternatives are…
A: Given; X Y Initial cost -20000 -55000 Annual cost -13000 -8000 Salvage value 10000 7000…
Q: government announces a green budget where they will provide zero interest loans for private sector…
A: The positive impàct on inclusive demand is predicted by the multiplier model, which predicts that a…
Q: 2) Draw the PF & Labor Market model assuming that initially the country Austria had 200,000 workers…
A: Given that; Austria had 200,000 workers at a wage of $20.00 per hour and producing close to $2.5…
Q: 1) Consider the following information for a small open economy. Y = 22,500 C = 0.75(Y – T) I=…
A: Equilibrium in the economy occurs where aggregate expenditure equals production, that is where…
Q: YCS MPC | MPS APC | APS S=MPC = MPS = APC =APS = 300 360 410 400 600 510 800 250 1050 0.32
A: Savings =Income(Y)-Consumption(C) Marginal propensity to consume - is the change in consumption…
Q: s. Given the total profit and the fixed cost TFC is 40, variable cost are chen the total revenue…
A: Revenue is equal to the number of units sold times the price per unit. To obtain the revenue…
Q: (a) Define Patent and explain types of patent. (b) Describe the impact towards society if Grab…
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: 1. A. If demand is given by Q(P) = 100/P, derive the elasticity of demand. B. If demand is given by…
A: The elasticity of demand, or demand elasticity, refers to how sensitive demand for a good is…
Q: explain the different challenges of the global cities
A: Global cities of present times are surrounded by many challenges in employment, education, etc.
Q: For the data in the following table, the consumption function is C = 800 + 0.6(Y – T). Fill in the…
A: Planned aggregate expenditure in a closed economy is the sum of consumption, planned investment, and…
Q: The weekly revenue realized by a company is approximated by the revenue function R(x, y) = 200x +…
A:
Q: Please draw the indifference curve of u(x1,x2) = max {x1,x2} in the graph. Also please try to make…
A: We have utility function u(x1,x2) = max {x1,x2}
Q: i need this in word not handwritten Q7. Assume that in 2015, the following prevails in the…
A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…
Q: A noted insurance authority has said, “Because the financing of long-term care is inconsistent with…
A: PLEASE FIND THE ANSWER BELOW. LONG TERM FINANCE: Long-term finance can be defined as any financial…
Q: Explain the various causes of a fall in the country’s exchange rate.
A: Answer to the question is a follows:
Q: Identify whether the following schenarios describe positive or negative externalites or neither. A.…
A: Externality can be of 2 types: positive externality and negative externality depending upon their…
Q: The supply curve for the production of oil in Sanaton is shown in the diagram below. Supply based on…
A: externalities is the spillover effects caused by an economic activities which have negative as well…
Q: 3. Consider the economy of Sandersonia. The population of Sandersonia is 100 people. Of the…
A: Answer - Labor Force :- It is the no. of people of a population who are working and actively…
Q: You have been hired as a Marco Economist by the President of the United States to help evaluate the…
A: When Fed chairman increasing interest rate again on the ground that the economy is growing strong…
Q: If the current account balance is negative and the capital account balance is zero, а. the financial…
A: Any country's balance of payment has two main segments which are:- (1) Current account- it measures…
Q: Fill in the bianks with the number that corresponds to the correct word or phrase in the word bank:…
A: 1) Answer:- reduce; reduce. 2) Answer:- increases; increase. Explanation:- Money may purchase lesser…
Q: $1 and Px, = $2. How 4-11. Consider the production function Y = X" X". Px, many units of X, and X,…
A: For finding out the amount of X1 and X2 needed to produce one unit of Y, we need to equate the ratio…
Q: Define the term balance of trade.
A: Trade is the exchange of goods and services in return for money.
Q: Suppose the Sunglasses Hut Company has a profit function given by P(q) = – 0.02q + 5q - 38 where q…
A: As given total profit function is P(q) = -0.02q2 +5q-38
Determine the Nash equilibria
Step by step
Solved in 3 steps with 3 images
- 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 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?What is the secure strategy for player B in the game presented in Table
- This activity has 4 theorical and practical exercises for which you will have to describe the representation of each proposed game and its solutions.1. Consider the following game in strategic or normal form.A2 B2 C2A1 1,0 1,2 -2,1B1 6,2 0,3 2,3C1 2,2 -2,1 2,3▸ Use the iterative elimination of strictly dominated strategies to reduce the game as much as possible.▸ What is the set of rationalizable strategies for each player? Microeconomics (code ECO2023)Actividades 2© MIU City University Miami ▸ What is/are Nash equilibrium(s) in this game?▸ Explain the differences between cooperative and non- cooperative games. What are the fundamental hypotheses about the behavior of the persons in Game theory?2. Two hunters may choose, individually and simultaneously, to go deer hunting, as the deer can provide abundant and appetizing food, or to go hare hunting, also appetizing, but scarce. Deer hunting represents a challenge and requires mutual coordination. Hunting a…Consider the following two-player game.First, player 1 selects a number x≥0. Player 2 observes x. Then, simultaneously andindependently, player 1 selects a number y1 and player 2 selects a number y2, at which pointthe game ends.Player 1’s payoff is: u1(x; y1) = −3y21 + 6y1y2 −13x2 + 8xPlayer 2’s payoff is: u2(y2) = 6y1y2 −6y22 + 12xy2Draw the game tree of this game and identify its Subgame Perfect Nash Equilibrium.Paramter y = 0 What is the highest payoff any player can receive in any subgame perfect Nashequilibrium of the repeated game?
- Consider the following game in strategic or normal form. A2 B2 C2 A1 1,0 1,2 -2,1 B1 6,2 0,3 2,3 C1 2,2 -2,1 2,3 Use the iterative elimination of strictly dominated strategies to reduce the game as much as possible. What is the set of rationalizable strategies for each player? What is/are Nash equilibrium(s) in this game?Consider the following representation of a Normal form game. actions w a (45,22) (10,38) (42,13) (10,7) (p,28) (15,40) (q,10) (44,10) (20,22) (14,31) (27,13) (12,8) d. (20,41) (9,48) (28,24) (18,32) Here each cell in the table represents an ordered pair. First element is payoff of the first player and second element is payoff of the second player. The letters a, b, c, d, x, y, z, w represent the actions. Write down the table in your answer script too. Now answer the following questions: 1. What is the distinction between strictly dominant strategy and weakly dominant strategy? Is it reasonable for a player to play a strictly dominated strategy? Explain why. 2. What are the minimum values for p and q that will make ba strategy that strictly dominates all other strategies for player 1, assuming both p and q are natural numbers? 3. Does player 2 have any strictly dominated pure strategy? If yes, which pure strategy dominates that strategy? If the submit button is off it is beacuse the due…Consider the following game 1\2 Y Z A 10,3 3,9 B 8,5 6,1 Suppose Player 2 holds the following belief about Player 1: θ1 (A,B) = (9/10,1/10) What is the expected payoff from playing ‘Y’ ? What is the expected payoff from playing ‘Z’ ? Based on these beliefs, player 2 should respond by playing _____
- 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.You are given the payoff matrix below. B1 B2 B3 A1 1 Q 6 A2 P 5 10 A3 6 2 3 a. Determine the range of values of P and Q in order for Player A to choose strategy A2 and PlayerB to choose strategy B2.b. Solve the problem in the perspective of the opponent. Are the ranges the same?c. What are the values of the game for (a) and (b)?A game involves two players: player A and player B. Player A has three strategies a1, a2 and a3 while player B has three strategies b1, b2 and b3. Player B b1 b2 b3 a1 -40,30 70,20 -10,120 Player A a2 40,60 80,80 60,20 a3 -30,40 -50,110 150, -70 Assuming that this is a one-time game, answer the following questions: Is there any dominant strategy for each player? What is the secure strategy of each player. What is the Nash equilibrium of the game?