Answer:
Each player can adopt a T for T strategy or a trigg er strategy. It is important to state that these strategies were not possible in a one-time game.
The equilibrium is that both players answer honest and each makes normal profit.
Both games, the P risoners' dilemma and this game, have a cooperative equilibrium in the long term. If a player employs a trig ger strategy or a T for T strategy, they can reach the cooperative honesty/honesty outcome.
In a short term, game equilibrium is not likely due to lying is more profitable than answer honestly deploying stated strategies.
Reference: NomCab HSEONE. “PS8- solution.” Academia , 2019.
Answer:
Explanation:
- Given the equation ; Qxd = 10,000 − 4PX + 5PY + 2M + AX
- where PX is the price of X = $50
- PY is the price of good Y = $100
- and AX is the amount of advertising on X = 1,000 units
a) Calculate the quantity demanded of good X ; Plugging all the values into the equation ;
= 10,000 − 4(50) + 5(100) + 2(25,000) + 1000
Qxd = 61,300units
b) Calculate the own price elasticity of demand for good ;
= d(Qxd)/dpx X px/Qxd = -4 x 50/61,300
= 0.0033. hence he demand for goods is inelastic
c) l will surely recommend lowering the price as this is evident from the value of the price elasticity of demand which is negative as such an increase in the price of their goods will give rise to total loss
d ) cross-price elasticity between goods X and Y = %change in quantity/ %change in price
e) Calculate the income elasticity of good X. Is good X normal or an inferior good? = dQ/dM X M/Q = 2(25000) /61300
= 0.82.
Yes! Good X is a normal goods since the value of the income elasticity is positive.
Answer:
The correct answer is Chemical production.
Explanation:
The chemical industry deals with the extraction and processing of raw materials, both natural and synthetic, and their transformation into other substances with different characteristics than they originally had, to meet the needs of people, improving their quality of life. Its main objective is to develop a good quality product with the lowest possible cost, and trying to cause the least damage to the environment. The raw materials correspond to various materials extracted from nature in order to manufacture consumer goods. It can be classified according to its origin: animal, vegetable and mineral.
The answer to this is "Pre-employment Qualifying Test". When all applicants for employment at RST corporation must pass a typing test including the production workers, the custodians and the forklift operator as well as duties with no typing duties must undergo this test. Then at this instance, the typing test is a Pre-employment Qualifying Test.
Answer:
Yes, I agree
Explanation:
As managers in an organization, proper attention must be paid to the forces in the external environment because these forces are dynamic and business cannot exist without them hence must align with these changes inorder to be successful.
Some of theses forces have direct impact with an organization such as customer's reaction to a company's product, how well the company stays ahead of it's competitors , suppliers and creditors. External forces in the environment that have indirect impact to a company are compliance with local laws, socio cultural forces, religion etc.
Practical examples
• Customer's reaction to a product speaks to what measures are taken by a company to improving the quality of products produced and sold. Favourable reaction would make the company succeed while unfavourable reaction could mar the company's performance.
• Level of compliance with local laws is also an important force in the external environment that must be adhered to. If a company must succeed, it must comply with local laws and order, failure to do so could result to fine or expulsion from the community.
