Complete question:
Consider the game of chicken. Two players drive their cars down the center of the road directly at each other. Each player chooses SWERVE or STAY. Staying wins you the admiration of your peers (a big payoff) only if the other player swerves. Swerving loses face if the other player stays. However, clearly, the worst output is for both players to stay! Specifically, consider the following payouts. Player two Stay swervePlayer one stay -6 -6 2 -2 swerve -2 2 1 1
a) Does either player have a dominant strategy?
b) Suppose that Player B has adopted the strategy of Staying 1/5 of the time and swerving 4/5 of the time. Show that Player A is indifferent between swerving
and staying.
c) If both player A and Player B use this probability mix, what is the chance that they crash?
Explanation:
a. There is no dominant strategy for either player. Suppose two players agree to live. Then the best answer for the player is to swerve(-6 versus -2). Yet if the player turns two, the player will remain one (2 vs 1).
b. Player B must be shown to be indifferent among swerving and staying if it implements a policy (stay= 1⁄4, swerving= 5/4).
When we quantify a predicted award on the stay / swerving of Player A, we get
E(stay)= (1/5)(-6)+ (4/5)(2)= 2/5 E(swerve)= (1/5)(-2)
c. They both remain 1/5 of the time. The risk of a crash (rest, stay) is therefore (1/5)(1/5)= 1/25= 4%
In the Labor Market, households work and receive payment from firms.
<u>Explanation:</u>
The skills of the people will be exchanged with the employers for the salaries or wages and this is called as labor market. Any people who is in need of any platform to show their skills and the organisation that is in need of labor are the main elements of the labor system.
The important source of producing any type of goods is labor. It is the labor market that decides the compensation that is to be made to these labors. Thus, in the labor market, the households work and they will receive compensation from the firm for which they work.
The answer is <span>$10,000.
</span><span>discount terms of 2/10, net/60 indicates that the discount of 2% will only apply if the payment is being done within 10 days.
Since the payment is being done 20 days after, the full price of the purchase must be paid by Jackson Ski.</span>
LeBron James is one of the best basketball players in the country, was selected by the Cleveland Cavaliers as the first pick in the 2003 NBA draft, signing a three-year contract worth almost $13 million, with an option for a fourth year at $5.8 million. Had he decided to attend college instead, James would have incurred an opportunity cost of at least $19 million in forgone income to earn a four-year college degree.
Opportunity cost is the value you would gain or lose if you choose a different path or solution. The opportunity cost in this scenario is deciding to play in the NBA since college was too expensive. LeBron James ultimately saved time and money by taking the detour because he received a contract worth close to $13 million; otherwise, he would have had to pay more and spend more time attending a four-year college.
LeBron's decision to join the NBA right after high school graduation has an opportunity cost because he might have attended a four-year university or college instead. He was chosen by the Cleveland Cavaliers as the first overall choice in the 2003 NBA Draft
To learn more about Opportunity cost here,
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The answer is: A.Healthful
A workplace would be categorized as 'healthful' if it is designed to ensure the health and wellness of the people that work on the site.
In united states, all of the safety requirement in the workplace is being overlooked by an organization called Occupational Safety and Health Administration. They create list of requirements that must be followed by employers and conduct daily investigation to ensure that all workplaces that operate maintain a healthful standard.
