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Explain why the equilibria found in part (a) are only short-run equilibria. What will happen to the industry in the long run? Describe the long-run equilibrium in detail.

Micro Economics Fill in the following table assuming computers are a fixed input that costs $30 per unit to rent and labor is a variable input that costs $12 per unit: Computers Labor Q APL MPL FC VC Cost MC AFC AVC AC 10 0 0 10 1 200 10 2 300 10 3 200 […]

Briefly discuss how the approach in this paper is an improvement on other ways of addressing the equilibrium selection problem and also comment on any limitations.

Micro Economics Part 1 Equilibrium Selection Consider the following version of the example in section 2 of Kandori et al (1993). “Learn-ing, mutation, and long run equilibria in games” with students meeting in pairs every period to work together with each using one of two computer systems, si or 82. There are 9 students in […]

What are equilibria of p?how the parameter condition in which an internal equilibrium exists and is stable.

Natural Resource Mathematics Attempt all questions. This assignment is due on Wednesday, October 6, 10:00 am. Make sure that you show clearly the reasoning you use to solve the problems. It is also advisable to keep a photocopy of the assignment you hand in. You are free to use any reference you wish as long […]

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