Question: There are 500 people who need to go to work at the same time. There are 3 roads possible : AE, BE and C. 1) What's the Nash equilibrium
Q: 13. IfQ-K12L2 the MP, is a. diminishing b. increasing C. constant d. not enough information to…
A: Given: The production function: Q = K1/2L1/2 To Find: The marginal product of labor (MPL):
Q: 5. Problems and Applications Q9 A farmer grows wheat, which she sells to a miller for $70. The…
A: "GDP or Gross domestic product in an economy represents the monetary value of all the final…
Q: 31 of 100 According to economic theory, the actor with the OOOO higher; comparative advantage lower;…
A: Opportunity cost refers to a loss incurred by giving up the next best alternative while making a…
Q: In the diagram below, when the competitive market is taken over by the monopolist, the monopolist is…
A: You have asked multiple questions, but we are supposed to solve only one question for you. If you…
Q: At which point would the government be most likely to try to stimulate the economy
A: Government: It refers to the people who focus on the growth of the economy. The government helps…
Q: 34 of 100 The idea that new industries in developing countries must be protected is known as…
A: In developing countries, there are new industries which are not stable enough to compete with more…
Q: OOOO of the supply curve and a(n). leftward shift; decrease leftward shift; increase a rightward…
A: In economics, supply is the total quantity of a particular good or service a supplier makes…
Q: O A. Pine trees in the great northwestern US forests. B. a table saw used to produce furniture in…
A: Physical capital is called tangible asset and it is used for making product. These assets are man…
Q: I will rate B) how can international aid assist countries with economic development? Can…
A: Economic development: It refers to the programs, policies, and other activities that benefit…
Q: Social efficiency consists of which of the following: the sum of consumer and producer surplus the…
A: The sum of consumer surplus and producer surplus is total surplus. i.e., Total surplus = Consumer…
Q: Which statement is INCORRECT? O To calculate the US GDP, statisticians add up the market value of…
A: Intermediate goods are those goods that are used in the production of final goods. Final goods are…
Q: Component of agriculture
A: Agriculture economics is the study of agricultural practices, situations, and policies from a…
Q: -19) All of the following, except one, are true at the output where a monopolist's marginal revenue…
A: A firm with monopolistic power has complete control over the commodity's market price and is subject…
Q: d. Calculate the prices to be paid by individuals A (PA) and B (PB), respectively. PA = RM_ e.…
A:
Q: Consider the following game. Firm 1 can implement one of two actions, A or B. Firm 2 observes the…
A: Now from the game tree, we can draw the normal form of the game as follows: When, Firm1 chooses,…
Q: what would happen if Governments increase the level of welfare payments.
A: Welfare benefits are government implemented programs that help in increasing the standard of living…
Q: Determine whether each policy below is expansionary (increasing aggregate demand) or contractionary…
A: The acts of a central bank that are geared toward affecting the total amount of money and credit in…
Q: The price elasticity of demand for widgets is 0.50. Assuming no change in the demand curve for…
A: Elasticity of demand = 0.50 Increase in Price = 20%
Q: QUESTION 9 4 Ain) is a network device commonly used to display project schedules. It was developed…
A: In economics, there are numerous mathematical and statistical tools used to display and determine…
Q: assume the required Reserve ratio is 12 for scientific Commercial Bank has actual reserves of 15,000…
A: Given, Required reserve ratio (rr) =12% Actual total reserve = 15,000 Loans =85000 Total…
Q: assume the required Reserve ratio is 12 for scientific Commercial Bank has actual reserves of 15,000…
A: Given, Required reserve ratio (rr) =12% Actual total reserve = 15,000 Loans =85000 Total check…
Q: Economists refer to "market failure" as Pakar ekonomi merujuk kepada "kegagalan pasaran" sebagai. a.…
A: Market failure is the situation where a market fail to allocate the resources Efficiently and…
Q: A government finances all of its debt through 1-year treasury bonds. This government is able to…
A: Debt-to-GDP ratio is defined as a metric which compares a nation's public debt to its GDP. It…
Q: You expect to receive the following: $2,738 at the end of each year for 12 years $17,464 today…
A: Part particulars Amount A Each Year for 12 Years 2738 B today 17464 C 6th Year 3933 D each…
Q: The World Bank projects that the world's population will increase from 7.6 billion in 2019 to 8.6…
A: The World Bank is an international association that gives financing, guidance, and examination to…
Q: what are some of the Advantages and Disadvantages of Monetary Theory/Monetarism
A: According to monetary theory, a change in the money supply is a significant driver of economic…
Q: Which of the following is INCORRECT regarding monopolistically competitive firms in the long run? A)…
A: Economic profit in total revenue minus economic cost. Economic cost includes both explicit cost and…
Q: Suppose Hang Tuah has 10 keris and 2 arrows and Hang Jebat has 2 keris and 2 arrows. If this…
A: Hang tuah and hand jebat have the combination of good ls and this allocation of goods is considered…
Q: 1. Assume that human capital skills from education decay over time because the knowledge gained by…
A: Production costs allude to the costs a company causes from manufacturing an item or offering a…
Q: 34 of 100 The idea that new industries in developing countries must be protected is known as…
A: New industries in developing countries are not strong enough to stand against more developed and…
Q: Assume that the price elasticity of demand is -2 for a certain firm's product. If the firm raises…
A: Price elasticity of demand refers to the economic measurement of the behavior vot consumers and…
Q: assume the required Reserve ratio is 12 for scientific Commercial Bank has actual reserves of 15,000…
A: Given, Required reserve ratio (r r) =12% Actual total reserve = 15,000 Loans =85,000 Total check…
Q: Calculate Price Elasticity of Demand for pens when the price rises from $4 to $6 a pen and quantity…
A: Price Elasticity of Demand is showing the sensitivity of changing quantity demanded to the changing…
Q: Required information E8-6 (Algo) Recording Depreciation and Repairs (Straight-Line Depreciation)…
A: Equipment cost Cost = 415,000 Accumulated dep = 191,000 residual Value = 33,000
Q: Suppose the supply of money, measured by M1, is $3.0 trillion, output, measured by real GDP, is…
A: Velocity of money refers that it is the tool which measure the rate at which money is exchanged in a…
Q: 1. Suppose your current job pays you $300,000 a year. However, you are considering starting your own…
A: Current job salary=$300,000 Total revenue=$75,00,000 Cost of material=$27,50,000 Employees…
Q: Which statement best describes the Consumer Price Index? The Consumer Price Index measures inflation…
A: Consumer price index (CPI) is defined as average change in the prices of fixed baskets of goods. It…
Q: Solve only these two subparts Q) A)What is the value of AVC at 130 units of output? B)At which…
A: Introduction Average variable cost is the per unit cost. It is also defined as when total variable…
Q: Chelsea Izkowski owns a fast food restaurant named Mickey Doodle's Burgers. She recently took a…
A: Income elasticity of demand alludes to the responsiveness of the quantity demanded for a specific…
Q: The sugar market has a supply curve with formula: Ps= 5 + 0.1Qs, and demand curve: Pd = 68-0.32Qd…
A:
Q: A city Has built a bridge over a river and it decides to charge a toll to everyone who crosses. For…
A: Elastic demand is one in which the adjustment of the amount of demand because of an adjustment of…
Q: in 1941 the good citizens of flat rock, arizona purchased 1213 three speed reversible rectocycles at…
A: First of all, law of demand suggests that if price is increased then quantity demanded of this…
Q: In Malaysia, proposals to build hydroelectric dams to generate electricity have caused two…
A: 1. Here, it is given that two groups have opposite argument for the proposal to build hydroelectric…
Q: b. Suppose interest rates in Japan increase more than interest rates in Canada. Briefly explain what…
A: The value of exchange rate is decided based on the demand and supply for currency. The value of…
Q: Nintendo, a leading manufacturer of video games is about to introduce four new games. The…
A: The factors of production are the elements employed in the production process by the enterprise in…
Q: 1.)The rise of globalization is due to the many companies that have become multinational…
A: Globalization is the process through which businesses expand their activities to a global scale. It…
Q: Five fact about gasoline price.
A: Consumers definitely report an improvement in petrol costs at the pump. Because of this focus,…
Q: In supply and demand theory, an increase in consumer income will: OA. Shift the demand curve for a…
A: In the supply-demand model, for an increase in income, demand for a normal good will increase and…
Q: Economists use labor-market data to evaluate how well an economy is using its most valuable…
A: Unemployment rate = Unemployed / labor force * 100 labor force = employed + unemployed employment to…
Q: What is the difference between Gordon method and Brainstorming?
A: The process of forming and transmitting ideas, whether they are abstract, tangible, or visual, is…
Step by step
Solved in 3 steps
- q60c- Is the Nash equilibrium the best outcome for this problem? Explain1. Nash Equilibrium (a) Find all pure Nash Equilibria P1/P2 W X Y Z 9,9 0,7 5,5 1,1 7,0 0,0 4,2 7,7 5,5 2,4 0,0 1,1 1,1 7,7 1,1 0,0 A B C D (b) Consider the following picnic game. There are N players in the game each who can chose to bring food to the picnic or not. Let b;= {0, 1} be player i's choice of bringing food with 0 as not and 1 as yes. If they decide to bring food it comes at a cost c;(1) = 1 and no cost to bring food. Payoffs are sum of food brought minus individual cost. i. Write out the normal form matrix if N = 2 ii. If N = 2 find all pure Nash Equilibria iii. Find all pure Nash Equilibria in the general gameJapan's Elpida Memory entered court management and was acquired by Micron. The media reportedthat it was the result of the semiconductor chicken game.■Question (a) Where is the Nash Equilibrium?■Question (b) What is the mixed-strategy equilibrium? – find out x and y■Question (c) What is the probability of a chicken game?
- 1) What are the Nash equilibria? Which one is unreasonable/non-credible threat? 2) What are the subgame perfect Nash equilibria? Does SPNE concept eliminate the unreasonable Nash equilibrium?rock paper scissors гock 0. -3 1 рарer 1. -1 scissors -1 3 0. (a) Show that xT= ( ) and yT= (3) together are not a Nash equilibrium 3 3 313 for this modified game. (b) Formulate a linear program that can be used to calculate a mixed strategy x € A(R) that maximises Rosemary's security level for this modified game. (c) Solve your linear program using the 2-phase simplex algorithm. You should use the format given in lectures. Give a mixed strategy x E A(R) that has an optimal security level for Rosemary and a mixed strategy y E A(C) that has an optimal security level for Colin.10. Game theory
- Suppose now we alter the game so that whenever Colin chooses "paper" the loser pays the winner 3 instead of 1: rock paper scissors rock 0. -3 1 1. раper scissors -1 -1 3 (a) Show that xT= (,) and yT= (5) together are not a Nash equilibrium 3'31 for this modified 3'3 game. (b) Formulate a linear program that can be used to calculate a mixed strategy x € A(R) that maximises Rosemary's security level for this modified game. (c) Solve your linear program using the 2-phase simplex algorithm. You should use the format given in lectures. Give a mixed strategy x E A(R) that has an optimal security level for Rosemary and a mixed strategy y E A(C) that has an optimal security level for Colin.し(5,3) b I(2,2) も(0,0) (4,12) a (12.4) (0,0) i). List all subgame pertect Nash equilibria and name one Nash eqvilibrivm that is not subgame pertect i). How many strategies does playot and player 2 have?Exercise 6.8. Consider the following extensive-form game with cardinal payoffs: 1 R O player pay 000 2 1 M 3 b 010 O player 3's payoff 1 2 221 2 000 0 0 (a) Find all the pure-strategy Nash equilibria. Which ones are also subgame perfect? (b) [This is a more challenging question] Prove that there is no mixed-strategy Nash equilibrium where Player 1 plays Mwith probability strictly between 0 and 1.
- Two politicians from the same party decide whether to support or oppose the gov- ernment's environmental policy. Politician A prefers that they both support, but Politician B prefers that they both oppose. Both politicians agree that the party should have a coherent position and the worst outcome is that one supports and the other opposes the policy. (a) Formulate this situation as a strategic game - specify the players, actions, and payoffs (you can set-up a table of the actions and payoffs). (b) What are the Nash equilibria of this game? Explain your answer.Consider “Providing a Public Good under Incomplete Information". (refer to pages 70-74, lecture notes.) If c and cz have the following distribution. 2. 0.5 1.2 C2 0.5 1.2 Prob 1/2 1/2 Prob 1/3 2/3 Find all Bayesian Nash Equilibria of this game. Select all cOTrect amswers. Don't copy Chegg give new answer ASAPConsider the following dynamic game: A (2,0) M 2 K (3,1) B 1 (1,4) A R (5,2) 2 K 1 C (3,1) (2,5) (1,0) (a) What is the strategy set for each player? How many strategies does each player have? (b) Find SPNE. (c) Is there a NE in which action C is a part of equilibrium strategy? (d) Give an example of some other NE that is not SPNE.