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Goryan [66]
3 years ago
11

Give brief definitions of the following concepts: Game theory, cooperative equilibrium, noncooperative equilibrium, dominant str

ategy, and Nash equilibrium, and price leadership. To do this, identify the definition for each term from the following list.
a) Actions taken by a firm to achieve a goal, such as maximizing profits.
b) The study of how people make decisions where attaining goals depends on interactions with others.
c) A table that shows the payoffs each firm earns from every combination of firm strategies.
d) An agreement among firms to charge the same price or otherwise not to compete.
e) A strategy that is the best for a firm, no matter what strategies other firms use.
f) A situation in which each firm chooses the best strategy, given the strategies chosen by other firms.
g) A game outcome in which players seek to increase their mutual payoff.
h) A game outcome in which players pursue their own self-interest.
i) A situation in which no player can make himself better off by changing his decision at any decision node.
j) A situation where one firm announces a price change, which is matched by other firms in the industry.
Business
2 answers:
max2010maxim [7]3 years ago
8 0

Answer:

Game theory is a branch of the economy that studies the decisions in which for an individual to succeed he has to take into account the decisions made by the rest of the agents involved in the situation.

The Nash equilibrium or Cournot equilibrium or Cournot and Nash equilibrium or fear equilibrium is, in game theory, 1 2 a "solution concept" for games with two or more players, 3 which assumes that:

  • Each player knows and has adopted their best strategy, and
  • Everyone knows each other's strategies.

Dominant strategies are considered better than other strategies, no matter what other players do. In game theory, there are two types of strategic domain:

  • a strictly dominant strategy is the strategy that always provides greater utility to one player, regardless of the strategy of the other player;
  • a weakly dominant strategy is the strategy that provides at least the same utility for all other player's strategies, and strictly superior for some of their strategies.

Alexus [3.1K]3 years ago
7 0

Answer: Game theory - "b) The study of how people make decisions where attaining goals depends on interactions with others."

Cooperative equilibrium - "g) A game outcome in which players seek to increase their mutual payoff."

Noncooperative equilibrium - "h) A game outcome in which players pursue their own self-interest."

Dominant strategy - "e) A strategy that is the best for a firm, no matter what strategies other firms use."

Nash equilibrium - "f) A situation in which each firm chooses the best strategy, given the strategies chosen by other firms."

Price leadership - "j) A situation where one firm announces a price change, which is matched by other firms in the industry."

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Dolce Co. estimates its sales at 180,000 units in the first quarter and that sales will increase by 18,000 units each quarter ov
Nataly_w [17]

Answer:

The answer is b) $5,319,000.

Explanation:

We have cash collection in third quarter will include:

+ 40% of sales in third quarter which is made in cash;

+ 70% of the remaining 60% of credit sales in third quarter which is collected within the quarter;

+ The remaining 30% of 60% credit sales in second quarter which is collected in third quarter.

We also have:

Sales in second quarter (units) = 180,000 + 18,000 = 198,000 units => Sales revenue = 198,000 x 25 = $4,950,000 => Cash collection in third quarter = 30% x (60%x 4,950,000) = $891,000;

Sales in third quarter (units) = 198,000 + 18,000 = 216,000 units => Sales revenue = 216,000 x 25 = 5,400,000 => Cash collection in third quarter = 0.4 x 5,400,000 + 0.7 x (0.6 x 5,400,000) = $4,428,000

=> Total cash collection in third quarter = 891,000 + 4,428,000 = $5,319,000  

5 0
2 years ago
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Galina-37 [17]

Answer:

Explanation:

Schedule of expected cash collection is a form of budgeted that list the time frames and the amount of payment expected from customers for the purpose of efficient planning.

Account receivables

60% * October sales = 67,000

November sales

40% * 320000 (November sales) = $128,000

                                                       $195000

December cash collection

60%*320000 (November sales) = 192000

40%*330000 (December sales)= $132000

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stich3 [128]

Answer:

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Explanation:

If someone addresses you formally, that is because that person expects the conversation to be formal, or because you both are in a formal enviroment, for example, a work meeting. For this reason, the best to do in such situation is to address the other person formally as well.

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Irina-Kira [14]

The question requires matching the terms to their definitions.

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  • <u>Recruitment Plan</u> is the process of integrating a new employee into an organization, maps out the strategy for attracting skilled employees and obtaining applications from a diverse workforce.

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  • <u>Interview</u> a face to face meeting between an employer and a job applicant.

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