1. Consider a setting in which player 1 moves first by choosing among three actions: a, b, and c. After

1. Consider a setting in which player 1 moves first by choosing among three actions: a, b, and c. After observing the choice of player 1, player 2 chooses among two actions: x and y. Consider the following three variants as to what player 3 can do and what she knows when she moves:(a) If player 1 chose a, then player 3 selects among two actions: high and low. Player 3 knows player 2’s choice when she moves. Write down the extensive form of this setting, as well as each player’s set of strategies. (You can ignore payoffs.)(b) If player 1 chose a, then player 3 selects among two actions: high and low. Player 3 does not know player 2’s choice when she moves. Write down the extensive form of this setting, as well as each player’s set of strategies. (You can ignore payoffs.)(c) If player 1 chose either a or b, then player 3 selects among two actions: high and low. Player 3 observes the choice of player 2, but not that of player 1. Write down the extensive form of this setting, as well as each player’s set of strategies. (You can ignore payoffs.) -In this question, it has mentioned that “After observing the choice of player 1, player 2 chooses among two actions: x and y.”,so is there should be a dotted line between player 2?

Thomas O’Grady and Bryan Rossisky have decided to start a small business buying flowers, shrubs, and trees wholesale and reselling
Thomas O’Grady and Bryan Rossisky have decided to start a small business buying flowers, shrubs, and trees wholesale and reselling them to the general public. They plan to contribute $5,000 each in startup capital and lease a 2.5-acre tract of land with a small, portable sales office. Thomas and Bryan are trying to decide what form of organization would be appropriate. Bryan thinks they should create a corporation because they would have limited liability and the image of a large organization. Thomas thinks a partnership would be easier to start and would allow them to rely on the combination of their talents and fi nancial resources. In addition, there might be fewer reports and regulatory controls to cope with1. What are some of the advantages and disadvantages of Thomas and Bryan forming a corporation? 2. What are the advantages/disadvantages of a partnership?3. Which form do you think would be the best?

The demand curve for tickets at an amusement park is:Q = D(p) = 1300 – 46p, p > 0 All
The demand curve for tickets at an amusement park is:Q = D(p) = 1300 – 46p, p > 0 All customers pay the same ticket price. The marginal cost of serving a customer is $13.Using calculus and formulas (don’t just build a table in a spreadsheet as in the Marginal Analysis I lesson) to find a solution, what is the total contribution margin (revenue less variable costs) to the amusement park?Round the equilibrium quantity DOWN to its integer part and round the equilibrium price to the nearest cent.Hint: The first derivative of the total revenue function, which is cumulative, is the marginal revenue function, which is incremental. The formula summary explains how to compute the derivative.

Toy Story Factory hires n workers to produce toys in the three divisions: “Toddle Toy”, “Girl Toy” and “Boy Toy”.
Toy Story Factory hires n workers to produce toys in the three divisions: “Toddle Toy”, “Girl Toy” and “Boy Toy”. For any given n workers, the factory always allocates the workers among the three divisions to maximize the amount of toy produced. The following table shows the amount (unit) of toys that will be produced in a division as a function of the number of workers deployed in the corresponding division. For instance, when 2 workers are sent to the Boy Toy division, a total of 200 units of toy will be produced there.[Number of Workers] [Toddle Toy] [Girl Toy] [Boy Toy] 1 150 120 110 2 240 210 200 3 327 295 281 4 416 376 362 5 486 445 431According to the Factory’s allocation rule, in order to get at least three workers allocated to Girl Toy, n must be at least equal to [Answer].(Integer, please.)

The nation of Leisureland can produce two goods, bicycles and bowling balls. The western region of Leisureland can, if it
Economics Assignment Writing ServiceThe nation of Leisureland can produce two goods, bicycles and bowling balls. The western region of Leisureland can, if it devotes all its resources to bicycle production, produce 100 bicycles per month. Alternatively, it could devote all its resources to bowling balls and produce 400 per month—or it could produce any combination of bicycles and bowling balls lying on a straight line between these two extremes.The eastern region of Leisureland can, if it devotes all its resources to bicycle production, produce 400 bicycles per month. Alternatively, it could devote all its resources to bowling balls and produce 100 per month—or it could produce any combination of bicycles and bowling balls lying on a straight line between these two extremes.Respond to the following questions (you may want to construct a graph in order to help with your answers – you are not required to present a graph):a) What it is the opportunity cost of producing an additional bowling ball measured in terms of forgone bicycles in western Leisureland?b) What is the opportunity cost of producing an additional bowling ball measured in terms of forgone bicycles in eastern Leisureland?c) Explain the difference in opportunity cost between western and eastern Leisureland. Which region has a comparative advantage in producing bowling balls? Bicycles?d) Suppose it is determined that 400 bicycles must be produced. How many bowling balls can be produced?e) Where will these goods be produced?

Stowe Automotive is considering an offer from the country of Indula to build a plant making automotive parts for use
Stowe Automotive is considering an offer from the country of Indula to build a plant making automotive parts for use there. In preparation for a final decision, Stowe’s economists have been hard at work constructing a basic econometric model for Indula to aid the company in predicting future levels of economic activity. Because of the cyclical nature of the automotive parts industry, forecasts of future economic activity are quite important in Stowe’s decision process. Corporate profits (Pt – 1) for all firms in Indula were about $130.00 billion. GDP for the nation is composed of consumption, C, investment, I, and government spending, G. It is anticipated that Indula’s federal, state, and local governments will spend in the range of $260 billion next year. On the basis of an analysis of recent economic activity in Indula, consumption expenditures are assumed to be $156.00 billion plus 80% of national income. National income, Y, is equal to GDP minus taxes, T. Taxes are estimated to be at a rate of about 30% of GDP. Finally, corporate investments have historically equaled $39 billion plus 90% of last year’s corporate profits (Pt – 1Pt).Requirement/s:1) Construct a five-equation econometric model of the state of Indula. 2) Assuming that all random disturbances average to zero, solve the system of equations to arrive at next year’s forecast values for C, I, T, GDP, and Y.

Assume a consumer with the utility function  U = U(X, Y) = (X 2)(Y 1)  and
Assume a consumer with the utility function  U = U(X, Y) = (X 2)(Y 1)  and the budget constraint (M = 95, Px = 10, and Py = 5)  95 = 10X 5Y  a. Decompose the price effect into substitution effect and income effect when price of X falls to 5 from 10.  b. Also identify if the goods X is normal or inferior or giffen.  c. Also show the decomposition in the graph

The market demand for a good is given by P(Q) = a – bQ and the marginal cost is a
The market demand for a good is given by P(Q) = a – bQ and the marginal cost is a constant “m”. This is an oligopoly with “n” identical firms, and Q = q1 q2 q3 … qi … qn. All firms act simultaneously and reach a Cournot equilibrium.a. Find the quantity produced by each firm, “qi”, in terms of a, m b

When moving from A to point B what would you have to give up in terms of producing DVD players?
When moving from A to point B what would you have to give up in terms of producing DVD players? In order to move from C to point B what would you give up in terms of producing MP3 players? When moving C to point B what would you gain in terms of producing gain in terms of DVD players? Why can’t you be at point E? How does this relate to scarcity?