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can all games be solved by elimination of dominated strategies?
Consider an importing with an import demand function given by p=120-q, which faces an export supply function of p=2q. The government decides to impose a tariff of $3 per units of imports
1. calculate the Domestic Price and consumption before and after the imposition of tariff.
2. What is the world price of the imports before and after the imposition of the tariff?
3. Does this country benefit from the imposition of tariffs? By how much?
A positive incentive that makes you better off is a _____.

Based on your research, what is your top career choice? Using the eight components from your graphic organizer, explain why you chose that career
Represent the above game in normal form/strategic form.

b. Identify the dominant strategy for both firms and the dominant strategy equilibrium. c. Is the above equilibrium Nash equilibrium? Is it Pareto efficient allocation? Why?
d. Assuming the game is one-shoot game and Firm 1 moves first represent it in extended form.

Using well labelled diagrams, explain how the equilibrium price and equilibrium quantity of apples will change as a result of the following; 2.2.1 A change in the wages of farm workers from R150 per day to R200 per day. (10) 2.2.2 A decrease in the price of fertilizers and a concurrent increase in the demand for apple juice.
Please explain in three well-structured paragraphs the impact of a change in the savings rate on the output.

if resource were infinitely abundant there will be no need to study economics.Discuss 3 to 4 pages
A fixed exchange rate country experiences upward pressure on the exchange rate value of its currency. The central bank chooses to intervene in the market to maintain its fixed exchange rate. How would the central bank go about intervening? If the pressures for the currency to appreciate persist, would it be difficult to maintain the fixed exchange rate?
Industry researchers R.S. Platou predicted that, between 2016–17, oil prices would fall by
5%, production of oil by OPEC and the former Soviet Union would increase, and
deliveries of new tankers would exceed scrappage of older vessels. (Source: Platou
Report , www.platou.com).
a. Using suitable diagrams, explain how each of the following would affect the market
for tanker services: (i) a fall in oil prices; (ii) an increase in production by OPEC and
the former Soviet Union; (iii) new tanker deliveries; and (iv) scrappage of older
b. Suppose that the net effect is to increase tanker rates. Illustrate the net effect on a
single diagram. Explain the impact on the quantity of tanker services used.