Rodriguez operates a variety store that provides an annual revenue of $480 000. Each year‚ he pays $25 000 in rent for the store‚ $15 000 in business taxes‚ and $350 000 on products to sell. He estimates he could put the $80 000 he has invested in the store into his friend’s restaurant business instead and earn an annual 20 percent profit on his funds. He also estimates that he and his family could earn a total annual wage of $90 000 if they worked somewhere other than the store. a. Calculate
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Explain the concept of dominant strategy equilibrium. 1. http://tuvalu.santafe.edu/~jkchoi/game4.pdf 2. http://econweb.umd.edu/~borowitz/dominant_strategy_equilibrium.pdf b. Discuss the concept of Nash equilibrium. 1.http://www.economics.utoronto.ca/osborne/igt/nash.pdf 2. http://www.columbia.edu/~rs328/NashEquilibrium.pdf c. Is every dominant strategy equilibrium a Nash equilibrium? 1. http://economics.fundamentalfinance.com/game-theory/nash-equilibrium
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Problem set 2.2 This question Is mainly concentration on the price changed effect. As the price raise ‚what is the changed to the quantity‚ turnover ‚and the market equilibrium. And the assumption are as following: The demand of the concert remain unchanged‚ the supply of the concert also unchanged( which consist on 3 concerts) ‚so the supply curve is vertical. In the question‚ the concert price in 2005 is $500 and all the tickets have been sold out which are 12000seats. The turnover is 12000seats
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Question 4 (25 marks) Golden Golf Inc. has been in merger talks with Birdie Golf Company for the past six months. After several rounds of negotiations‚ the offer under discussion is a cash offer RM550 million for Birdie Golf. Both companies have niche markets in the golf club industry‚ and both believe that a merger will result in synergies due to economies of scale in manufacturing and marketing‚ as well as significant savings in general and administrative expenses. Bryce Bichon‚ the financial
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Eric Scantlebury NT1310 Physical Networking Unit 4 Lab 1: New building – Tools and Wiring 4/8/14 Now that we understand the codes and standards needed to create this building‚ it’s time to put stuff in it. Our task at hand is to start wiring the building for a new computer science and electrical engineering labs. This building will have a lot of devices that need to be connected to the school campus network and we will need a lot of tools to do it. First off I think since our building is going
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Chapter 1 What is Economics? Definition of Economics • • • • • • • All economic questions arise because we want more than we can get. Scarcity is our inability to satisfy all our wants. Faced with scarcity we must make choices. Economics is the social science that studies the choices that individuals‚ businesses‚ governments‚ and entire societies make as they cope with scarcity and the incentives that influence and reconcile those choices. Economics divides into Microeconomics and
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the Philippines today. A massive refleeting program was introduced to be able to cope with the standards of the industry. Indeed‚ this program paved the way for the problems they are facing right now. Closure Philippine Airlines (PAL) is facing its worst crisis. Foremost in the company’s mind is how can it possibly overcome problems created by the economic turmoil that has been bagging the Asian region since July 1997- a situation few quarters were able to predict. What do they do in times of decreasing
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Unit 4: Science and materials in construction and the built in environment Assignment 1: Construction materials P1) Describe the basic factors in simple scientific terms that influences human comfort in the internal environment • Air temperature – Heat too hot too cold • Lighting – Too dim not enough daylight • Noise – Discomfort of hearing • Air quality – Too stuffy‚ ventilation P2) Describe how each factor is measured • Air temperature – Celsius Acceptable level 33 C • Lighting
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Assignment title Assignment 4 Economic Factors (4 of 5) Assessor Rahela Begum‚ Clive Beech‚ Prem Waatess Date issued 18th May 2015 Final deadline 1st June 2015 Duration (approx) 5 hours Qualification suite covered BTEC Extended Diploma in Business Level 3 BTEC Subsidiary Diploma in Business Level 3 Units covered Unit 1: The Business Environment Learning aims covered Learning aim 3: Know the impact of the economic environment on businesses Scenario Background: A-Z Consultancy You have recently
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SUBJECT NAME : MICROECONOMICS SUBJECT CODE : BEC1001 ACADEMIC YEAR : AY 2012/2013‚ OCT SEMESTER “By submitting this work‚ we are declaring that we are the originators of this work and that all other original sources used in this work have been appropriately acknowledged. We understand that plagiarism is the act of taking and using the whole or any part of another person’s work and presenting it as our own without proper acknowledgement. We also
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