For the united states, one important benefit of foreign trade is

Solving for dominant strategies and the Nash equilibrium Suppose Nick and Rosa are playing a game in which both must simultaneou

slava [35]

Answer:

The only dominant strategy in this game is for NICK to choose RIGHT. The outcome reflecting the unique Nash equilibrium in this game is as follows: Nick chooses RIGHT and Rosa chooses RIGHT.

Explanation:

ROSA

left right

4 / 6 /

left 3 4

NICK

right 6 / 7 /

7 6

Rosa does not have a dominant strategy since both expected payoffs are equal:

if she chooses left, her expected payoff = 3 + 7 = 10
if she chooses right, her expected payoff = 4 + 6 = 10

Nick has a dominant strategy, if he chooses right, his expected payoff will be higher:

if he chooses left, his expected payoff = 4 +6 = 10
if he chooses right, his expected payoff = 6 + 7 = 13

The only possible Nash equilibrium exists if both Rosa and Nick choose right, so that their strategies are the same, resulting in Rosa earning 6 and Nick 7.

8 0

3 years ago

The ideas of Adam Smith and Karl Marx 1. ___ used the metaphor of the "invisible hand" to: a. Describe how the individual pursui

melisa1 [442]

Answer: 1. A - Describe how the individual pursuit of self-interest works to promote the interest of the public as a whole

2. A- Both Adam Smith and Karl Marx believed that humans are motivated by self-interest

Explanation:

1. According to Adam Smith who is known as the father of modern economics stated in his thesis that individual's self-interest and freedom of production as well as consumption is in the best interest of the society as a whole.

Each Individual's free exchange creates signals about which goods and services are valuable. These signals will spontaneously direct competing consumers, producers, distributors, and intermediaries—each pursuing their individual plans— to fulfill the needs and desires of others.

Smith’s invisible hand became one of the primary justifications for an economic system of free market capitalism.

2. Pairing that best describes Adam Smith's view of human motivation in a market economy and Karl Marx's view of human motivation in a communist economy: Both Adam Smith and Karl Marx believed that humans are motivated by self-interest as they both believe that the economy is a capitalist economy that all its good and services are in the hands of private individuals.

7 0

3 years ago

Which of the following functions includes identifying the sources of risk and may include offering advice on controls that can r

Kaylis [27]

Answer:

It is Risk Assessment

Explanation:

Risk Assessment is process of identifying and analyzing potential events that may negatively impact on the business either as individual or in aggregate and prevent the company from achieving its objectives.

Each business has its own inherent risks and a conscious efforts must be made to identify and analyse them using impact assessment. Necessary measures must be put in place to prevent or reduce their impacts.

4 0

3 years ago

Regarding the statute of limitations on additional assessments of tax by the IRS, select the applicable date in each of the foll

-Dominant- [34]

Answer:

A) The income tax return for 2018 was filed on March 3, 2019. The three-year statute of limitations will begin to run on:

April 16, 2019 (the next day after the tax deadline)

B) The income tax return for 2018 was filed on August 13, 2019. The statute of limitations will begin to run on:

August 13, 2019 (the same day the taxes were filed)

C) The income tax return for 2018 was prepared on March 31, 2019, but was never filed. Through some misunderstanding between the preparer and the taxpayer, each expected the other to file the return. The statute of limitations:

If the taxes were not filed, then the statute of limitations cannot begin to run.

D) The income tax return for 2018 was never filed because the taxpayer thought no additional tax was due. The statute of limitations:

If the taxes were not filed, then the statute of limitations cannot begin to run.

3 0

3 years ago

On January 1, Year 1, Gemstone Mining Company (GMC) paid $10,500,000 cash to purchase a stone pit estimated to hold 50,000 tons

Varvara68 [4.7K]

Answer:

Cost of Mining Stone pit = $10,500,000

Salvage value at the end of third year = $500,000

Total expected mining during the life = 50,000 tonnes

Depletion per tonne = (cost - salvage) ÷ total expected mining

= (10,500,000 - 500,000) ÷ 50,000

= $200 per tonne

Stone extracted during the year = 10,000 tonnes

Depletion expense of Year 1 = 10,000 tonnes @ 200 per tonne

= $2,000,000

JOURNAL ENTRY:

Depletion expense A/c Dr. $2,000,000

To Accumulated Depletion- Mining rights $ 2,000,000

(To record depletion expense for Year 1)

6 0

3 years ago