IMBA8002 Game Theory and Applications
Problem Set 2
March 3, 2013
1. A town council consists of three members who vote every year on their
own salary increases. Two Yes Votes are needed to pass the increase.
Each member would like a higher salar
REWIEW QUESTIONS FOR PUBLIC CHOICE READINGS
Tullock, "Rent Seeking and Tax Reform"
1. How does Tullock define rent seeking?
2. Why is the distinction between harmful and beneficial rent seeking important? What are some
examples of each?
3. How is it decid
SWOT Analysis American Airlines
The SWOT analysis is a widely used tool used to scan the internal and external
environment to achieve a systematic approach and support for strategic decisionmaking
An organization strengths and weaknesses can be identified
When a large number of firms is involved, trading patterns will of course be more complicated.
The initial distribution of emission rights will now include many firms, with many potential
buyers and sellers. In order for the equimarginal principle eventua
a) The production possibility frontier (PPF) is a curve depicting all maximum output
possibilities for two goods, given a set of inputs consisting of resources and other
factors. The PPF assumes that all inputs are used efficiently.
b) slope of the produc
Chapter 8 Discussion Questions
1.Why are administrative systems more evolved than clinical systems?
According to Glandon, Smaltz & Slovensky (2008), administrative
systems influence the efficiency and effectiveness of institutional operations and
The deposit refund system can be understood as a program in which a product charge ( deposit) and a
subsidy or rebate for the recycling or proper disposal of the product are provided. The manufacturers
who are bound to abide with this systems have to face
Taxes reduce both demand and supply, and drive market equilibrium to a price that
is higher than without the tax and a quantity that is lower than without the tax. One of the most
immediate and clear effects of tax on supply and demand involves an increas
Dr. A. K. Dey
To understand the linkage among attitudes,
behavior, and marketing effectiveness.
To become familiar with the concept of scaling.
To learn about the various types of attitude scale
Micro: TA Session 4, Problem set
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) The main difference between a short-run production function and a long-run production function is that:
A) in t
Answer A;- a) students in central city schools are twice as likely as suburban students to drop out of high
b) the high school education received by black central city students is about the same quality as the
education received by a white high sch
Consider a shop that produces bagels in a monopolistically competitive market. The
graph below shows its demand curve (labeled Demand), marginal revenue curve
(labeled MR), marginal cost curve (labeled MC), and average cost curve (labeled AC).
Unions can be used to represent employees of an organization. Many people feel that the job security
involved with unions, is a huge benefit.The traditional view of labor unions holds that unions negatively
affect productivity and efficiency. Labor unions
ECO 300 MICROECONOMIC THEORY FALL 2005
QUESTIONS FOR PRECEPTS WEEK 12 DECEMBER 14
Discuss the following situations or statements from the point of view of the theory of
asymmetric information, including theories of signaling and screening.
(a) A house pai
The formula for converting dollar figures from an earlier era into today's dollar figure adjusted original
earning for the impact of inflation over time
Winnings Adjusting for inflation = Nominal winnings * Current year index/original year index
The main objective of the Bretton Woods system was to accomplish the stability in the exchange rate,
promoting the international trade and development. The main features are as below: Fixing of official par value for domestic currency in terms of gold or
Cost of Construction of Every floor in High Rise Buildings
The difference between resort property and that of an urban or suburban lodging facility is that resort inns
are expansive, with 500 or more visitor rooms. They offer far reaching meeting and capacity space, and
nourishment and refreshment operations. The
Seattle-based Amazon started its India operations in June 2013, six years after Flipkart, and many believe
the India unit of the US global is "almost on par" with the home-grown e-commerce firm in building
As the market size for the e-comm
Answer 2:- AllofthefollowingarenormallyIncludedonaJobdescriptionEXCEPT:Selectone:
Correct Answer:- a:- Hourly pay rate
Reason:- Job description mainly includes the prerequisites and description of job not the salary or
payment of wages.
Answer 3:- Externa
The economic structure of any economy is negatively affected by flexible exchange rates system. There
will be a change in the price of exported and imported products due to flexible exchange rates which can
create instability in the economy.
Due to contin
Department of Economics, CSUS
Problem Set 2 Solutions
Due Tuesday March 8th at the beginning of lecture
Write all answers neatly on the pages given. Draw all graphs and write your answers in the space provi
Practice Problem Answers
6. An individuals demand for physician office visits per year is Q = 10 (1/20)P, where P
is the price of an office visit. The marginal cost of producing an office visit is $120.
a. If individuals pay full price for obta
Economic wellbeing can be understood as the level of living standard in a n economy or the
level of prosperity of either an individual or a group of individuals.
The level of economic well being is determined on the basis of income of the individuals.
Cause related marketing occurs when a strategic relationship is formed by a firm with a certain
strategic relationship with a particular social cause or the different activities which can benefit
the different elements of the society. The various advantag
The different activities which are performed by the Federal Reserve, the nation's central
bank for influencing the amount of money and credit in any economy are termed as
monetary policy. Due to change in the supply of money, there will be a change i inte
Customer life value which is also termed as lifetime customer value or life time values can be
understood as the estimation of the net profit which can be obtained by the firm from the entire
future relationship with the customer
Customer lifetime value c
As per one of the most popular model, there are mainly five types of motivations
which force an individual to conform to others. The main reasons for conformity are
stated as below:
Most of us try to conform with others as we all want to be considered as
What is right or wrong depends on many situations and there are number of elements which governs or
decide the rightness or wrongness of any activities. The following elements can decide the right or
wrong in a large extent:Social Values:- The social valu