Answer:
The correct answer is option b.
Explanation:
The problem of scarcity of resources is the basic problem in the study of economics. This problem exists because the resources are limited and have alternative uses. These resources are used to satisfy unlimited wants and needs.
So we need to determine the efficient allocation of these scarce resources such that we are able to get maximum satisfaction or utility from them.
Because of this scarcity problem, every economic decision involves some trade-off.
Answer:
See explaination
Explanation:
a) A dominant strategy is the strategy a player chooses irrespective of the strategy chosen by the other player.
When Rina chooses Left, Musahi chooses Right as this gives higher payoff (7 > 4).
When Rina chooses Right, Musahi chooses Left as this gives higher payoff (6 > 3).
When Musahi chooses Left, Rina chooses Right as this gives higher payoff (8 > 6).
When Musahi chooses Right, Rina chooses Right as this gives higher payoff (7 > 5).
So, the only dominant strategy is for Rina to choose Right.
(b) In a Nash equilibrium, the players decide their strategies keeping in mind the reaction of the other strategy.
Here, this is: Musahi chooses Left & Rina chooses Right (payoff: 6, 8).
Answer:
b. What is your greatest weakness?
Answer:
12,320
57,320
Explanation:
<u>Given:</u>
Total Tax = $18,480 (For 12 months)
Annual Tax on Property = $45,000
Calender's Year (1st Jan - 31st Dec)
<u>Computation.</u>
A. Tax for (1st May - 31st Dec )
($18,480 / 12 month) x 8 month
= $1,540 x 8
= $12,320
Taxes expense = $12,320
Prepaid tax = $12,320
B. Total Amount of tax Expense
Tax Expense = $12,320
<u>Add: Annual Tax = $45,000</u>
Total tax expenses = $57,320
