Microeconomics |
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Implications of an Economic Model The implications of an economic model are
the equilibrium values of various prices and quantities. An equilibrium is a
situation in which everyone has economized — that is, all individuals have made
the ...
Implications of an Economic Model The implications of an economic model are
the equilibrium values of various prices and quantities. An equilibrium is a
situation in which everyone has economized — that is, all individuals have made
the ...
˹éÒ 356
If Abe denies, it pays me to confess and get 1 year rather than 2. Thus Bob's
dominant strategy is to confess. Since each player's dominant strategy is to
confess, the equilibrium of the game is for both players to confess and to get 3
years each.
If Abe denies, it pays me to confess and get 1 year rather than 2. Thus Bob's
dominant strategy is to confess. Since each player's dominant strategy is to
confess, the equilibrium of the game is for both players to confess and to get 3
years each.
˹éÒ 397
Competitive Equilibrium Eventually, in long-run equilibrium, the interest rate on
capital in the two industries will have equalized atR. The Stock Market In the story
of a contracting steel industry and an expanding computer industry that we have
...
Competitive Equilibrium Eventually, in long-run equilibrium, the interest rate on
capital in the two industries will have equalized atR. The Stock Market In the story
of a contracting steel industry and an expanding computer industry that we have
...
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