Questions
passage require analysis and breakdown In Managerial Economics, the authors discuss two different types of games:...

passage require analysis and breakdown
In Managerial Economics, the authors discuss two different types of games: sequential-move games and simultaneous-move games. Sequential-move games mean ”players take turns, and each player observes what his or her rival did before having to move” (p.186). You are essentially making moves and decisions based off the other player. Sometimes you are able to predict the outcome by looking ahead to possible moves the other player may make. This is very similar to the strategy used in chess or checkers. “In simultaneous-move games each player decides on her strategy before knowing the decisions of other players” (Froeb, McCann, Shor, & Ward, 2016). This strategy is a little more difficult than sequential-move game, but is still doable. The easiest analogy I can think of is the game of rock, paper, scissors. You have to decide what you are going to play without knowing what your opponent is going to play.
An instance in my life in which I use game theory would have to be when I am driving in traffic. Traffic is horrible in Houston and no matter what time of day you can guarantee that you will be sitting in traffic for a while. Of course, all the other drivers are players in this game with the objective being getting from point A to point B in a reasonable amount of time. I can see how driving in traffic could be either sequential-move game or simultaneous-move game. If drivers used their blinkers like they are supposed to then you can figure out which lane you want to stay in or move to. However, we all know that not all drivers use their blinkers, so sometimes you have to just be on the lookout for other players before making a lane change or staying in a lane and just going faster. Of course I drive a lifted 4x4 V8 truck so I use a lot of gas, especially driving in the city and sitting in traffic. I have to be able to get to where I am going in a fast time so that I am not stuck in too much traffic burning up all my fuel. The more fuel I use the more money that is going to have to come out of my pocket when it is time to refuel. Luckily I invested in an EZ tag which allows me to take an alternative route that is not as crowded and cuts my drive time in half and also saves me fuel. Overall, this saves me money not only on gas, but also on money I will have to spend on any future repairs I may have to make from normal wear and tear. I did not know that I was implementing game theory. Now when I drive anywhere I will know that I am play

In: Economics

John will open an Italian restaurant in IFC Mall in Central in December 2020. IFC Mall...

  1. John will open an Italian restaurant in IFC Mall in Central in December 2020. IFC Mall is a popular mall with a lot of different kinds of restaurants. John’s Italian restaurant will be located on 3rd level of the mall and next a Japanese restaurant on the left and a Vietnamese restaurant on the right.   John’s Italian restaurant is a fine dining restaurant, which targets the office workers and shoppers.
  1. Identify what kind of marketing tool that John needs to use in order to analyze the competition on the 3rd level of IFC Mall. Then, suggest any THREE elements that can be used for comparison.    

b. John would like to use behavior segmentation to segment the market. Explain any THREE types of behavior segmentation that are suitable for office workers and shoppers.   

In: Economics

The table contains price and quantity information for two vehicle models produced by Ford Motor Company,...

The table contains price and quantity information for two vehicle models produced by Ford Motor Company, the F-series trucks and Escape SUVs.

2016 2017
price quantity price quantity
Escape SUVs $24485 $307069 $24645 $308296
F-series trucks $44400 $820799 $47800 $896764

a. Calculate the amount contributed by Ford to the U.S. GDP (real and nominal) from the sales of the two models in 2016 and 2017.

b. Determine the growth rate of nominal GDP (if Ford were the entire economy).

c. Determine the growth rate of real GDP( if Ford were the entire economy).

d. Use the shortcut you learned to convert between real and nominal growth rates to determine the growth rate of prices.

e. Is the increase in nominal GDP due to a change quantity, a change in prices, or both?

In: Economics

In 250 words describe Karl Marx predicted the downfall of capitalism. How do world events during...

In 250 words describe Karl Marx predicted the downfall of capitalism. How do world events during the past fifty years indicate flaws in his prediction? please type

In: Economics

List three specific things that would cause the demand for ride-share services (i.e., Uber or Lyft)...

List three specific things that would cause the demand for ride-share services (i.e., Uber or Lyft) to shift. Use three different categories (all 5 listed below) of demand-shifters in your answer.

  • Changes in Income
    • Normal good – a good for which a positive relationship exists between changes in consumer income and changes in demand
    • Inferior good – a good for which an inverse relationship exists between changes in consumer income and changes in demand
  • Prices of related goods
    • Substitutes – goods for which a positive relationship exists between changes in the price of one and changes in demand for the other
    • Complements – goods for which an inverse relationship exists between changes in the price of one and changes in demand for the other
  • Changes in Consumer Tastes
    • Fads
    • Changes in quality
  • Changes in Consumer Expectations
    • Changes in Price Expectations
    • Changes in Income Expectations
  • The size of the market

In: Economics

True or False and why..The Federal reserve monitors and regulates the supply of money in the...

True or False and why..The Federal reserve monitors and regulates the supply of money in the economy.

In: Economics

During the 20th century, what role did changes in innovation, technology, and communication play: in the...

  1. During the 20th century, what role did changes in innovation, technology, and communication play:
  • in the decline of agriculture’s relative size (in terms of # of jobs) while simultaneously allowing for agricultural production to significantly increase?
  • in the decline of manufacturing’s relative size, (in terms of # of jobs) resulting in a fourfold increase in the amount of manufactured goods with only a 20% increase in manufacturing employment?
  • growth in the services sector?
  • growth in international trade?

In: Economics

Darren is considering adding three one‑year bonds to his portfolio. The face value on each bond...

Darren is considering adding three one‑year bonds to his portfolio. The face value on each bond is equal to $1,000.

If the current market interest rate is 44%, determine the present value (PV) of each bond. Enter your answers to two decimal places.

Face Value Coupon
ABC Bond $ 1,000 4%
DEF Bond $ 1,000 5%
GHI Bond $ 1,000 3%

PV ABC : $

PV GHI: $

PV DEF: $

In: Economics

Utility function is U = 0.5 ln q1 + 0.5 ln q2 a) What is the...

Utility function is U = 0.5 ln q1 + 0.5 ln q2

a) What is the compensated demand function for q1?

b) What is the uncompensated demand function for q1?

c) What is the difference between uncompensated demand functions and compensated demand functions?

In: Economics

The text defines the Malthusian trap as: “A point at which the world is no longer...

The text defines the Malthusian trap as: “A point at which the world is no longer able to meet the food requirements of the population, and starvation becomes the primary check to population growth.” In other words, population will outpace food production.

Discuss whether you believe this trap has been avoided for the next 100 years. Consider government policies (like China’s one-child policy), the use of genetically engineered crops, social patterns of family size, and environmental factors.

In: Economics

What are the characteristics or assumptions of the monopoly model? For each of the following markets...

What are the characteristics or assumptions of the monopoly model?

For each of the following markets explain the sources of monopoly power/barriers to entry: electric company, diamonds, new life-saving drug.

In what part of the demand curve will a monopolist operate? Why?

In: Economics

For each of the 3 causal questions (i, ii, and iii) answer the following (and label...

For each of the 3 causal questions (i, ii, and iii) answer the following (and label your answers clearly):

a. What is the outcome variable and what is the treatment?

b. Define the counterfactual outcomes Yi(0) and Yi(1)

c.What plausible causal channel(s) runs directly from the treatment to the outcome? In what direction would that push the results?

d.Is reverse causality a potential concern?

e.What are possible sources of selection and/or omitted variable bias in the raw comparison of outcomes and treatment status? Which way(s) would you expect the bias to go and why?

Questions

i.Many firms, particularly in poorer countries, are small and informal.Do informal firms grow more slowly than formal firms?

ii.Do students who come to class more get higher grades?

iii.Are countries whose governments are a larger part of the economy (ie G/GDP is larger) wealthier?

In: Economics

b) Explain at least two possible i. Positive economic effects of devaluing the pula. ii. Negative...

b) Explain at least two possible
i. Positive economic effects of devaluing the pula.
ii. Negative economic effects of devaluing the pula.
[12 marks]

In: Economics

Consider a one period macroeconomic model for the closed economy of the island of Anabel. Describe...

Consider a one period macroeconomic model for the closed economy of the island of Anabel. Describe the three agents in the model, the exogenous variables, and the endogenous variables in the model. Graph and describe the competitive equilibrium of Anabel's economy.

In: Economics

The price of oil in international markets has dropped stunningly 60% in the past twelve months....

The price of oil in international markets has dropped stunningly 60% in the past twelve months. Among the factors mentioned behind this drastic fall is the millions of barrels of oil produced in the US called shale oil.

Look at the supply and demand picture for this commodity and try to analyze its price action. Discuss the impact of price elasticity of supply and demand in the short and long terms.

Should be in 3-4  pages thanks

In: Economics