Principles of Macroeconomics

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University of Wisconsin Department of Economics Economics 101: Principles of Microeconomics Korinna K. Hansen Learning Guide 11 Due Date: Week of Monday, April 30, 2007 Reading Assignment: Case & Fair Chapter 14 pp. 310- end, and all relevant lecture material. Problem Assignment: Problems 1, 4 and 6 on pages 325 and 326. Objectives: After completing the assignment you should be able to do the following: 1. Define an oligopoly and give examples of such industries. 2. Graph and describe the equilibrium in the collusion model.
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Unformatted text preview: 3. Graph and describe the equilibrium in the kinked demand model. 4. Describe the Cournot model. 5. Graph and describe the equilibrium in the price leadership model. 6. Be able to define and understand the significance of the following (in game theory): a payoff matrix, a dominant strategy, a maxmin strategy, a Nash equilibrium. 7. Given a payoff matrix, know how to identify dominant strategies, maxmin strategies and a Nash equilibrium....
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  • Spring '07
  • Hansen
  • Microeconomics, Game Theory, payoff matrix, University of Wisconsin Department of Economics Economics, Microeconomics Korinna K.

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