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2013-1 Midterm

E to what do the concepts apply what the lists of

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Unformatted text preview: g “dominated” (i.e. to what do the concepts apply?), what the lists of payoffs being compared represent (whose payoffs and for what?), the way in which the comparison is made, the purpose of the concepts. Note: Say what the differences are, not just where they are. For example, “My wallet is different from yours” is not enough. You should say, “My wallet is red, while yours is blue.” PART B: PROBLEMS (62 points) Show your work ● Number of points in brackets ● Use answer booklet 1. (42 points) There are two firms in a homogeneous good...
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