EBK MICROECONOMICS
13th Edition
ISBN: 8220106798652
Author: Arnold
Publisher: CENGAGE L
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Question
Chapter 18, Problem 11QP
(a)
To determine
Evaluation of linking spending programs to visible hikes in tax.
(b)
To determine
Evaluate whether the congress can spend more revenue when amending the balanced budget
(c)
To determine
Evaluate the situation when people vote for the distribution of federal dollars to different categories of spending.
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refer to exhibit 8.12 and identify each curve in the graph
Q1. (Chap 1: Game Theory.)
In the simultaneous games below player 1 is choosing between Top and Bottom, while player 2 is choosing between Left and Right. In
each cell the first number is the payoff to player 1 and the second is the payoff to player 2.
Part A:
Player 1
Top
Bottom
Player 2
Left
25, 22
Right
27,23
26,21
28, 22
(A1) Does player 1 have a dominant strategy? (Yes/No) If your answer is yes, which one is it? (Top/Bottom)
(A2) Does player 2 have a dominant strategy? (Yes/No.) If your answer is yes, which one is it? (Left/Right.)
(A3) Can you solve this game by using the dominant strategy method? (Yes/No) If your answer is yes, what is the solution?
not use ai please
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