14. If a new source of energy is found (1) How would that affect labor market? O A. labor demand increases, demand curve shifts rightward. B. labor supply decreases, supply curve shifts leftward. O C. labor supply increases, supply curve shifts rightward. D. labor demand decreases, demand curve shifts leftward. (2) How would that affect the level of full employment output? O A. increases O B. decreases O C. no effect O D. it depends

14. If a new source of energy is found (1) How would that affect labor market? O A. labor demand increases, demand curve shifts rightward. B. labor supply decreases, supply curve shifts leftward. O C. labor supply increases, supply curve shifts rightward. D. labor demand decreases, demand curve shifts leftward. (2) How would that affect the level of full employment output? O A. increases O B. decreases O C. no effect O D. it depends

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Two travelers own an identical suitcase that contains identical antiques. The airline is liable for a maximum of $100 per suitcase. To determine how much to reimburse each traveler, the airline puts them in different rooms (so that they cannot communicate), and ask them to write down an amount (an integer number) between $2 and $100. If both write down the same number, the airline will reimburse both travelers that amount. However, if the two amounts are different, both travelers will be paid the lowest of the two numbers along with a bonus/malus: $2 extra will be paid to the traveler who wrote down the lower value and a $2 deduction will be taken from the person who wrote down the higher amount. What are the travelers’ best response functions? What are the Nash equilbria of the game? Are they Pareto efficient? Explain the intuition why.
200- 100- 66.7-- 50- a B's best response 50 100 66.7 B) 50 pizzas. A's best response C) 25 pizzas. The above figure shows the reaction functions for two pizza shops in a small isolated town. The Stackelberg leader will produce A) 100 pizzas. 200 D) 66.7 pizzas. 4p S E
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Hello, please help me to solve part (d) and (e):Charlie finds two fifty-pence pieces on the floor. His friend Dylan is standing next to him when he finds them. Chris can offer Dylan nothing at all, one of the fifty-pence pieces, or both. Dylan observes the offer made by Charlie, and can either accept the offer (in which case they each receive the split specified by Charlie) or reject the offer.If he rejects the offer, each player gets nothing at all (because Charlie is embarassed and throws the moneyaway).(a) Formulate this interaction as an extensive-form game. To keep things simple, players’ payoff is equal to their monetary gain.(b) List all histories of the game. Split these into terminal and non-terminal histories.(c) What are the strategies available to Charlie? What are the strategies available to Dylan? Draw the strategic-form game.(d) Find the pure-strategy Nash equilibria of this game.(e) What do you think will happen?
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