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1/2 ----L-----------R
U----(1,1)-------(-2,6)
D----(6,-2)------(-1,-1)
What difference does it make if the game is played only once or is repeated an infinite number of times? Show that, with infinite repetitions, an average payoff pair (2, 2) can be obtained if the players alternate between two different strategy pairs. Show that the average payoffs (2, 2) are also enforceable if the players follow a simple trigger strategy.
over following options that they hope will get rid of the surplus while keeping the price floor - restricting supply, decreasing demand or purchasing the surplus at the floor price
Use diagram to illustrate the impact on demand curve and equilibrium price and quantity of sasko bread if there's an increase in consumer's taste for Albany bread
State the different ways in which the demand function can be represented
Consider the following normal form game:
1/2 ----L-----------R
U----(1,1)-------(-2,6)
D----(6,-2)------(-1,-1)
What difference does it make if the game is played only once or is repeated an infinite number of times? Show that, with infinite repetitions, an average payoff pair (2, 2) can be obtained if the players alternate between two different strategy pairs. Show that the average payoffs (2, 2) are also enforceable if the players follow a simple trigger strategy.
Qd= Qs
given the following equations: 400 - 2P + 4j = - 100 + 3P and
400+400+100 = 3P+2P calculate price and quantity. (5)
d) Plot a graph showing the above res
Explain one problem associated with using gross domestic product as a measure (8) of economic growth. Include in your answer a proposition of how to overcome the problem mentioned.
Choose any one of the tools from Question
4.1.1 and elaborate on the application of this tool in your country.
Explain the two (2) main tools of fiscal policy
#333702 on Dec 2022