3) Recently, a major question in the news is why the Afghan army collapsed so quickly andunexpectedly in the face of the Taliban offensive. To help understand the situation, consider thefollowing simplified model of the situation. Assume that there are two Afghan soldiers in thesame unit. Each can stay and fight the Taliban or desert. If both stay and fight, they will win anybattle against the Taliban, which each values at 100 utility. If either soldier deserts, the Talibanwins, which they each values at 0 utility. In addition, if only one soldier stays, that soldier willbe killed by the Taliban, which he values at -1000 utility. In addition, the Taliban is offering abounty to any soldier that deserts. ne soldier does not care about this, and would not take thebounty, while the other values the bounty at 50 utility.a. Draw the game based on this scenario.b.Find all pure strategy Nash equilibriac. Find the mixed strategy Nash equilibriumd. What does this game and the equilibria say about why the Afghan army collapsedso suddenly? Consider that there are multiple equilibria in this game. Part 2: Nash equilibria by converting to strategic formIn the following problems, convert the extensive form game into a normal/strategic form game.Then find all pure strategy Nash equilibria. (Note, I am asking you to find the basic Nashequilibria, not the subgame perfect Nash equilibria)5)4,1W22,3AX2,4A3,2BQY3,3B22D1, 11,2

A mathematical framework known as game theory can be used to analyze and forecast how rational…

3) Recently, a major question in the news is why the Afghan army collapsed so quickly and unexpectedly in the face of the Taliban offensive. To help understand the situation, consider the following simplified model of the situation. Assume that there are two Afghan soldiers in the same unit. Each can stay and fight the Taliban or desert. If both stay and fight, they will win any battle against the Taliban, which each values at 100 utility. If either soldier deserts, the Taliban wins, which they each values at 0 utility. In addition, if only one soldier stays, that soldier will be killed by the Taliban, which he values at -1000 utility. In addition, the Taliban is offering a bounty to any soldier that deserts One soldier does not care about this and would not take the

3) Recently, a major question in the news is why the Afghan army collapsed so quickly and unexpectedly in the face of the Taliban offensive. To help understand the situation, consider the following simplified model of the situation. Assume that there are two Afghan soldiers in the same unit. Each can stay and fight the Taliban or desert. If both stay and fight, they will win any battle against the Taliban, which each values at 100 utility. If either soldier deserts, the Taliban wins, which they each values at 0 utility. In addition, if only one soldier stays, that soldier will be killed by the Taliban, which he values at -1000 utility. In addition, the Taliban is offering a bounty to any soldier that deserts One soldier does not care about this and would not take the

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 1SCQ: Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can...

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During the Second World War, Germanys factories were decimated. It also suffered many human casualties, both soldiers and civilians. How did the war affect Germanys production possibilities curve?
Multiple choice question Joe and Rita each have some milk and cookies (Milk on the horizontal axis). Joe's MRS ofcookies for milk is 2. Rita's MRS of cookies for milk is 4. Which of the following statements isTRUE?a) No gains from trade are possible.b) Both Rita and Joe can be made better off if Rita gives Joe some cookies in exchange for milk.c) Rita and Joe are on the contract curve.d) Both Rita and Joe can be made better off if Joe gives Rita some cookies in exchange for milk.
3. Noah and Xaviera love to play "Hide and Seek." It is a simple game, but it continues to amuse. It goes like this. Xaviera hides upstairs or downstairs. Noah can look upstairs or downstairs but not in both places. If he finds Xaviera, Noah gets one scoop of ice cream and Xaviera gets none. If he does not find Xaviera, Xaviera gets one scoop of ice cream and Noah gets none. a. Fill in the payoffs in the matrix below! Is this a zero-sum game? What are the Nash equilibria in pure strategies? Hide and Seek Xaviera Upstairs Downstairs Upstairs Noah Downstairs b. Find a Nash equilibrium in mixed strategies for this game. c. Noah and Xaviera made new rules for this game. Now if Noah finds Xaviera upstairs, he gets two scoops of ice cream, but if he finds her downstairs, he gets one scoop. If Noah finds Xaviera, she gets no ice cream, but if he doesn't find her she gets one scoop. Fill in the payoffs in the graph below! Are there any Nash equilibria in pure strategies? Advanced Hide and Seek…
dent A boss notices that one of his unscrupulous employees has been stealing company materials lately. He values honesty in himself and his employees, but the stolen property was not valu Consequently, the boss prefers keeping her around rather than having to fire and train a repl Nevertheless, he would ideally like to stop her from stealing. The boss is thinking about issuing a warning: the next person caught stealing any company property will be immediately fired. I Should the boss issue such a warning? (Hint: You need to first find the subgame perfect equilibrium (SPE)) Below is the game in extensive form. The top payoffs belong to the Boss, the bottom payoff belong to the employee. Employee Stop No warning Steal Figure 1: Extensive form of the game Boss Ignore Boss Fire Warning Boss Follow Test Forgive 21 Employee Quit 0
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Please solve a Suppose that without a seat belt, drivers who travel at 0 m.p.h. (mile per hour) have a 100% chance of staying alive, while drivers who travel at 100 m.p.h. have 0% chance of staying alive. Suppose that with a seat belt, drivers who travel at 0 m.p.h. have a 100% chance of staying alive, drivers who travel at 100 m.p.h. have a 50 % chance of staying alive and drivers who travel at 200 m.p.h. has no chance of staying alive. (a) Suppose a driver prefers more chances of staying alive to less, driving faster than slower. Draw and indifference curve diagram relating safety (measured by chance of staying alive) on the horizontal axis and speed (measured in m.p.h.) on the vertical. Draw the budget constraints of a driver with a seat belt and a driver without a seat belt. (You may assume these constraints are straight lines.) (b) True or False: If speed and safety are both normal goods, then the invention of seat belts will certainly make people drive faster, but might or might…
when selecting the lineup for relays, teams start with the slowest runner and finishwith the fastest. In Beijing 2008, Jamaica were the hot favorites to win the 4 X 100 since theUK and USA were disqualified in the semis. Moreover, Usain Bolt came into the lineup. Thisleft the Jamaicans to make a key decision: Which position should they run Bolt? Look at thesplits both Bolt and Asafa Powell had and mention which position each runner should havecome in in race time.
Saved to this PC V ut References A A Aa x² A a. b. C. O Search (Alt+Q) Mailings Review View Help Du A A EEE ΕΞ ΑΙ ¶ ↓ E- Paragraph LO Value of first donut Value of second donut Value of third donut Value of fourth donut Value of fifth donut Value of sixth donut S Normal Problem 1 Tammy loves donuts. The table shown reflects the value Tammy places on each donut she eats: $0.60 $0.50 $0.40 $0.30 $0.20 $0.10 If the price of donuts is $0.20, how-many donuts will Tammy buy? Why? Body Text How much consumer surplus would she have at a price of $0.20? Styles m If the price of donuts rose to $0.40, how many donuts would she purchase now? What would happen to Tammy's consumer surplus?
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EXERCISE 1Below is a production possibilities table for consumer goods (Food) and capital goods(Robots):A B C D EFood 0 1 2 3 4Robots 10 9 7 4 01. Show these data graphically. Upon what specific assumptions is this productionpossibilities curve based?2. If the economy is at point C, what is the cost of one more food? Of one morerobot? Explain how the production possibilities curve reflects the law ofincreasing opportunity costs.3. If the economy characterized by this production possibilities table and curvewere producing 3 food and 2 robots, what could you conclude about its use ofavailable resources?4. What would production at a point outside the production possibilities curveindicate? What must occur before the economy can attain such a level ofproduction?EXERCISE 2Explain how (if at all) each of the following affects the location of a country’s productionpossibilities curve:1. The quality of education increases.2. The number of unemployed workers increases.3. A new technique…
What is cardinal approach?
Four roommates are planning to spend the weekendin their dorm room watching old movies, and they are debating how many to watch. Here is their willingness to pay for each film: a. Within the dorm room, is the showing of a movie apublic good? Why or why not?b. If it costs $8 to rent a movie, how many moviesshould the roommates rent to maximize totalsurplus?c. If they choose the optimal number from part(b) and then split the cost of renting the moviesequally, how much surplus does each personobtainfrom watching the movies?d. Is there any way to split the cost to ensure thateveryonebenefits? What practical problems doesthis solution raise?e. Suppose they agree in advance to choose theefficientnumber and to split the cost of themoviesequally. When Judd is asked his willingnessto pay, will he have an incentive to tell thetruth? If so, why? If not, what will he be temptedto say?f. What does this example teach you about theoptimalprovision of…