am. 158. 1. The Following is a game in which the players have three strategies each.Player 2LeftCentreRightPlayer 1Top(4,5)(1,6)(5,6)Middle(3,5)(2,5)(5,4)Bottom(2,5)(2,0)(7,0)(a). Write the game in extensive form.(b). Find Nash equilibrium in pure strategy of the game.(c). Find dominant strategies of both players.2. From the following payoff matrix where the payoffs are the profits or

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Answered: 1. The Following is a game in which the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?
An electronics company makes communications devices for military contracts. The company just completed a large contract. The Army contract was for 6808 devices that were produced by 43 workers in three weeks. Each worker worked 40 hours per week. What was the prductivity for the ARMY contact in devices per labour hour? (State your answer rounded to two decimal places)
Kobmison Crusoe spends 4 hours a day catching fish and picking coconuts. He can always cateh 2 umioer of coconuts he eats per day and Fis the number of ish he eats per day, How many fish will he choose to eat per day? F= 2LF or -2/.
a bakery charges $ 1.50 for donuts , and $ 2.25 for its scones. one day the manager found out that 150 scones had been sold out , and the total recepits were $ 258. how many donuts and scones were sold?
P = c + 1/(nxb). When the number of firms (n) in an industry is more thena. each firm's price level falls due to increased competitionb. the average cost of each firm rises because it produces lessc. each firm's price level rises as competition fallsd. the average cost of each firm falls as it produces more
Problem 6Cannes Croissants (not a real company) wishes to determine the optimum production quantity for its topselling product, almond croissants. The annual demandfor almond croissants is 12,000 units. The setup costs fora production run of the croissants is US$15. The holdingcost per unit per year is US$0.50. Production is mostefficient when 80 croissants are produced per day. Thecompany operates 300 days during a year.a What is the economic production quantity (EPQ)?b How many production runs will there by per year?c What is the maximum inventory level?d What is the total annual cost (in US dollars)?e What is the length of a production run in days?
No written by hand solution
(dollars/16) 8= Ps 5 = P₁ 4= P₂ 0.1 = P4 016 а b g U.S. beef market Q3 Q₁ 113 120 125 (dollars/16) (thousand tons) Rises, L+m+n Falls, L Falls, o None of the above is correct 10=P₂ 7=P3 5-Pi 2= P6 k l Im Q4 Q5 74 76 Japan beef market 'S Q6 86 (thousand tons Refer to the above partial equilibrium model of trade (large country case). Assume the world price is $5 when reaching free-trade equilibrium. Moving from a closed situation to free trade, producer surplus in Japan______ by

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