Q1. Explain carefully: If all workers and jobs were indistinguishable, there would be presently one wage rate, pretentious ideal information and costless mobility. As division of your answer, utilize the graphs below to illustrate what would happen if wages were initially unequal. By surety explain about the role of the two assumptions given what happens if they are violated?
Q2. Write a paper that uses game theory to set up a game designed to help a consumer decide whether to buy life insurance or not. To remain the game comparatively simple, suppose the life insurance being considered is term life, that is insurance exclusive of an gathering investment value.
Remain in mind about your paper that is going to be read by people without previous knowledge of game theory.