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Compare the Cournot and Stackleberg games and explain the benefit of being the incumbent.
(a) Show this game in extensive form. (b) Find a sub game-perfect equilibrium. (c) Show this game in normal form.
Draw the demand and supply function for headphones using a rough scale and showing the appropriate intercepts for the price and quantity axis
The price of the tuna is determined by competition and is set at Php80/kg. 1. What is the MP of a day's worth of fishing during prime, month 7, month 8
The framers of the Constitution created a system of government that included both horizontal and vertical checks and balances. What is difference between two?
Illustrate the Steady-State of the Solow-Swan model and show the effect of an increase in the savings rate on the Steady-State.
An extended family is voting on an issue of where to hold the next family reunion. Use the median voter theorem to explain the outcome of the final vote.
Advice to the tenant who has been approached by the lessor with a view to surrender and renewal of the lease at market rent.
In first year of operation, he spent $100,000 on equipment & licensing and earned total revenue of $210,000. Marquis' accounting profit is and economic profit?
One day the manager found out that 150 scones had been sold out, and the total receipts were S 258. How many donuts and scones were sold?
How can the utility-maximizing rule be used to explain the substitution and income effect?
How would you price the new product? What quantity would you produce and what would be your profit?
Calculate the couple's elasticity of demand for restaurant meals. Measure quantity demanded in terms of number of meals bought each week.
In the process of shopping for a retirement plan, record keepers generally offer employers several versions with identical investment options
What impact would this have on the demand for emeralds in this market? What impact would this have on the supply of emeralds in this market?
Ranking only on the basis of GDP per capita is measuring the wealth of the individual in the nation. It's similar to comparing just wealth and overall welfare
draw Rachel's budget constraints before and after subsidy program. Also include an indifference curve and coordinates of Rachel's optimal bundle with subsidy.
In what ways do large businesses have advantages over smaller businesses in establishing their own level of equilibrium?
i) Discuss whether the library can be considered a public good ii) Explain which libraries will be built, and whether the outcomes are efficient
Draw the PPF for the Billy + Sally economy as a whole (like in question below). Put cake on the horizontal axis and donuts on the vertical axis.
There is a plethora of "dollar store" that purchase the oversupply of many manufacturers and sell it at a discount. Do you think this is efficient for economy?
State whether Timothy's bundle is preferred to Ann's bundle or Ann's bundle is preferred to Timothy's bundle. Why? Provide at least 300 words.
If you would have an average check of $21.50 how many covers the restaurant will have to serve to cover those expenses?
Why do you think labor standards and working conditions are lower in developing nations of the world rather than in other countries?
And Ginsburg wants to make the largest possible profit. Identify the conditions they would use to choose price and quantity for each goal and explain.