co 550 Assignment 3 Assignment 3 1. Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn’t matter which side it is as long as everyone chooses the same side. Otherwise‚ everyone may get hurt. a. Does either player have a dominant strategy? Explain. I don’t believe that either player has a dominant strategy. Dominant strategy is “a strategy that results in the best outcome or highest payoff to a given player no matter what action
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BRANDEIS UNIVERSITY Department of Economics Economics 10a Mr. Coiner Introduction to Microeconomics Fall‚ 2012 Problem Set 2 1. This question examines the impact of 5 events on the market for large automobiles with relatively low gas mileage and relatively high emission levels (think Hummer). Answer each part separately. For each event‚ indicate which curve (D or S) shifts‚ indicate in which direction (left or right) it shifts‚ and show in a demand-supply diagram in which
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Topic 10: The Transition Period I. The Free Trade Era in Europe. During the mercantilist era‚ trade was seen as a zero-sum game: one country’s gain was another country’s loss. If Spain imported more from England that she exported to England‚ she had to send specie to England to make up the difference. In the mercantilist view‚ this was viewed as a loss for Spain and a gain for England. So‚ countries established policies to encourage favorable trade balances: they subsidized export industries
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1. List the three largest categories that make up the market basket that is used to compute CPI. According to Figure 1 in our textbook‚ there are many categories that make up the market basket used to calculate CPI. They are Housing‚ Transportation‚ Food and beverages‚ Medical care‚ Recreation‚ Education and communication‚ Apparel‚ and other. The three largest categories consist of Housing at 43%‚ Transportation at 17% and Food and beverages at 15%. These three combined make up 65% of the market
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Economics 515 AU12 Midterm 3 Review The exam will have 10‚ 10-point questions on it from the questions below. 1. Explain briefly how guns and steel aided in Europeans’ attempts to conquer the native population of Africa and the Americas. How did germs work in favor of European conquest against the Incas? How did germs work against the Europeans in their imperialist efforts in Africa? 2. Describe the attempt of Europeans to colonize Africa depicted in Guns‚ Germs‚ and Steel
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How can bursting of an asset-price bubble in the stock market help trigger a financial crisis? * When this happens the price of the bubble will realign with their fundamental economic values‚ companies will see their net worth decline and the value of their collateral they can pledge will drop. It causes a decline in the value of the institutions’ asset‚ whereby causing a decline in the net worth of the company. This deterioration in the balance sheets causes them to deleverage‚ worsening
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ECON individual assignment Topic: What were the causes of the Great Depression of the 1930s? Is today’s economic situation similar? Discuss. Zhijin Yu 300700894 Introduction The Great Depression occurred on 1930s made a huge destroyed impact to all of global economic entities. With economic theory developing‚ nowadays‚ economists are able to prevent economic depression or recession by using Macroeconomic knowledge. The report that following is completely based on economic principles
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There is often a trade-off between equity (fairness) and efficiency • gain from trade are the advantages of specialization • economies normally move toward equilibrium • Three basic econ. questions - What to produce? How to produce? For Whom? • Three economic system ➢ all of it answer those 3 basic econ. questions ➢ types - traditional‚ command/planned‚ market ➢ most of the country are mixed economies (more than one type) Chapter 2 : Economic Models Trade-offs and Trade •
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1. What is metabolic absorption? “All the cells take in and use nutrients and other substances from their surroundings. Cells of the intestine and the kidney are specialized to carry out absorption. Cells of the kidney tubules reabsorb fluids and synthesize proteins. Intestinal epithelial cells reabsorb fluids and synthesize protein enzymes” (McCance & Huether‚ pg. 2). 2. What uses oxygen to remove hydrogen atoms in an oxidative reaction? “Peroxisomes are so named because they usually contain
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Questionnaire: This questionnaire is part of research for my Economics School Based Assessment (SBA) project. Your response will be greatly appreciated. Topic: An investigation into the factors affecting the demand for Tutti Frutti in Kingston‚ Jamaica Please tick the answer of your choice or write your answer where necessary. What gender are you? Male ( ) Female ( ) How old are you? 18 - 25 years ( ) 26 - 30 years ( ) 31 – 40 years ( ) Over 40 years
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