Answer: a) Eleanor picks Left as Dominant strategy
b) Both pick LEFT at Nash Equilibrium.
Explanation:
The Dominant strategy is that strategy that once embarked on, gives the highest benefit irrespective of what the other player does.
The Dominant strategy therefore is for ELEANOR to pick LEFT. Should Eleanor pick left, they stand a chance to gain 5 if Darnel picks Left as well and 3 if Darnel picks Right. This is better than picking Right because there Eleanor has a chance of a Payoff of 2.
The Nash Equilibrium of a game is the point where both players are at their best alternative meaning that it is beneficial to both of them to remain where they are.
With Eleanor always picking Left, it would be beneficial for Darnel to pick Left as well and make a Payoff of 6 which is the highest they can make with Eleanor picking Left.
The Nash equilibrium in this game is as follows: DARNEL chooses LEFT and ELEANOR chooses LEFT.
Answer:
A. Gross Domestic Product
Explanation:
The gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.
Gross domestic product can be calculated in 3 ways:
1. Expenditure approach
2. National output
3. National income
Expenditure approach = Consumption spending by households + Investment spending + Government Spending + Net Export
I hope my answer helps you
Answer: the correct answer is a. the competitive firm will attain resource-allocative efficiency, but the monopolist will not
Explanation: the monopoly will not attain allocative efficiency because in theory a monopoly won't lose a single customer even if it raises prices since it is the only company in the market selling that product.
The Quick Book Online ecosystem gives you and your client access to a wide range of apps to help increase productivity in a business.
Explanation:
- The Quick Book Ecosystem helps small firms in their growth and productivity. It keeps all the accounts properly,does all the legal work. It is an easy going app and is very useful for the businessman.
- There is no need to keep any backup still the important data are kept secured. Online chats can also be easily performed.
- There is not requirement of software to manage it as well as this app don't require any upgrades. Hence we can say that this app is very useful because through this app we can avail other apps too.
