Answer:
The answer is -1.5 and complementary goods
Explanation:
Cross price elasticity is the percentage decrease in quantity demanded divided percentage increase in price.
= -6/4
= - 1.5.
Because the sign is negative, the goods are complements. Complementary goods are directly related. As in they move in the same direction.
For example, car and fuel are complements. The increase in quantity demanded for car will increase the quantity demanded for fuel. Or if the price of car goes up, all things being equal, the quantity demanded of car will reduce and for fuel too.
Mobile payment or mobile money transfer is where a transaction is paid via a smart phone.
Report it to the U.S Coast Guard National Response Center
Peer learning
In group work, students will learn from their fellow students. Sometimes peers will be able to explain concepts or ideas to their fellow students better than a lecturer or teacher.
Improves critical thinking
During the group work process students will be expressing their opinions or ideas with the other students in the group providing feedback. This feedback to each student will include critique as well as the interpretation of the opinions or ideas expressed. The final piece of group work will be based on the total opinions and ideas discussed.
Enhances problem solving
Each piece of group work provided for collaborative learning will require some problem solving. Every member in the group will need to help solve the problem in order to complete the task.
Improves communication skills
Working in groups to learn will encourage people to improve their communication skills. They will need to learn how to communicate their opinions or ideas, how to listen to other people’s opinions or ideas and provide feedback.
Improves cultural awareness
People from different backgrounds and cultures may have different ways to learn as well as different opinions or ideas than other people in the group. By working in groups, these differences will be highlighted and will improve people’s awareness.
Answer:
1. Payoff matrix : Strategic form
2. Game tree format : Extensive form
3. A junction on a game tree : Decision nodes
4. One of the final outcomes of a game tree : Terminal nodes
5. Divides the overall game tree into nested subgames before working backward from right to left : Backward induction
6. A mini-game within the overall game : Subgame
7. The process of backward induction that relies on both firms having perfect information about the decisions made in each subgame : Nash equilibrium.
Explanation:
Payoff matrix is the technique for decision making where goals are dependent on interaction with others. Nash equilibrium is a strategy in which every firm tries to choose best possible outcome keeping in view the decisions of other firms.
