# Econ Written Report

846 words - 3 pages

Au Nga Sze 13085067DAF1605Introduction to EconomicsWritten report of Question 5.5 and 6.1Question5.5Mr. Smart designed a reward scheme for Peter and Paul. One is gives oneself \$10000 bonus, and the other one is gives another salesman \$30000 bonus. Peter and Paul can choose either the first one or the second one.Part (a) requires us to construct a payoff matrix of Peter and Paul. If both Peter and Paul choose to give oneself \$10000 bonus, both of them can get \$10000. If Peter chooses to give oneself \$10000 bonus, Paul chooses to give another salesman \$30000 bonus, Peter can get \$40000 and Paul can get \$0. If Paul chooses to give oneself \$10000 bonus, Peter chooses to give another salesman \$30000 bonus, Paul can get \$40000 and Peter can get \$0. If both Peter and Paul choose to give another salesman \$30000 bonus, both of them can get \$30000.For part (b), if they can collude, both of them will give another salesman \$30000 because they can get the maximum reward in total.For part (c), if Paul chooses to cooperate (choose to give another salesman \$30000 bonus), Peter will choose to give oneself \$10000 bonus in order to maximize his individual reward. If Paul chooses to cheat (choose to give oneself \$10000 bonus), Peter will choose to give oneself \$10000 bonus, which is the most beneficial option. It is the same for Paul to do so. As a result, collusion fails.For Part (d), Nash equilibrium is an equilibrium in which each player takes the best possible action given the action of the other player. So, when both of them choose to give oneself \$10000 bonus, the Nash equilibrium is attained.Question6.1In order to find out the profit maximizing output of this monopoly, which required in a(i), we first need to work out the equation of MR. As given by the question, we know that when demand curve is P=a-bQ, the MR curve will be MR=a-2bQ. The equation of demand curve is given by the question, which is P=12-0.002. So the MR curve will be MR=12-0.002(2)Q, which is MR=12-0.004Q. After knowing the MR curve, we need to figure out the MC curve. MC curve is given by the question, which is MC=3+0.001Q. The profit maximizing output is equals to MR=MC. By substituting all figures, we can have an equation of 12-0.004Q=3+0.001Q. After calculation, we can get the answer of Q=1800. As the result, the profit maximizing output is 1800 units.Part a(ii) asks for calculating the socially efficient output level. The socially efficient output level is obtained when MC=MB=D. As MC and D are given by...

## Find Another Essay On Econ written report

### Is Microsoft a Monopoly? How has Microsoft's Monopoly affected consumers?

3004 words - 12 pages Share Stats, 2005). Besides dominating the operating systems market, Microsoft is also dominating the browser usage market, which was a highly contested market when the Internet phenomenon began in the early 1990's. The tactics used by Microsoft to gain market share in this market will be further discussed later in this report. Currently, Microsoft's Internet Explorer has a 75.5% share of themarket and the closes competition it faces is from

### Social Marketing Essay

2864 words - 11 pages achievements and successes, Werklund seems most privately proud of the opportunity to impart some of his solid values and principles along the way. Calgary business hall of Fame • Cover Although it's not mentioned in any formal business plan and it will never be written in the annual report, the essence of Canada's vital manu- facturing industry is 'making stuff.' Now and then, even professionally referred to as widgets, developing, creat- ing

### THE SENKAKU/DIAOYU ISLANDS TERRITORIAL DISPUTE BETWEEN JAPAN AND CHINA

9720 words - 39 pages Senkaku/Diaoyu está muy influida por una serie de intereses económicos, circunstancias domésticas, cuestiones de identidad, exigencias de la legislación internacional y agravios históricos. Este artículo proporciona un análisis sobre estas cuestiones que también resultan a su vez indicativas del estado de las relaciones bilaterales en general. El análisis del período 1972-2010 indaga

### Corporate crime

3467 words - 14 pages corporate crime which found in the report of SC. Among all crime announcement made by SC, there are 14 samples matched to this study which is considered as committing in corporate crime and also is the public listed company in Malaysia. The corporate crime which had been committed includes furnishing false information, making misleading statements, misleading appearance of active trading and others. 3.4.1.3 Calculate expected and abnormal returns

### ECO/360 Auto Industry Overview

4101 words - 16 pages second best performance of the five months it has been on sale. Ford's Escape hybrid rounds out the results with 1,363 units sold in its third-best month yet. The Escape hybrid now accounts for 9.1 percent of all Escapes sold which is up from 6.2 percent last month.Sales ReportsThe major producers of domestic automobiles report sales monthly. These numbers are seasonally adjusted by the U.S. Department of Commerce and are available to the public

### globalization

9741 words - 39 pages Robert-pre.qxd 12/19/01 12:11 PM Page iii © Robert Adams 2002 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the

### Reality and Illusion in Shakespeare's Hamlet - Reality, Appearance and Deception

896 words - 4 pages on a direct course to his goals.   Although indecision continues to plague him, Hamlet establishes the certainty of the ghost's claims of murder using a play, written by Hamlet himself and performed before King Claudius, to cause the accused murderer to squirm in his guilt. Claudius reacts accordingly while an excited, motivated Hamlet finally feels justified in his schemes against his uncle.  In spite of his apparent certainty, Hamlet

### Sub-plots in Hamlet

1118 words - 4 pages Sub-plots in Hamlet   There are many things that critics say make Hamlet a "Great Work," one of which is the way that Shakespeare masterfully incorporates so many sub-plots into the story, and ties them all into the main plot of Hamlet’s revenge of his father’s murder. By the end of Act I, not only is the main plot identified, but many other sub-plots are introduced. Among the sub-plots are trust in the Ghost of King Hamlet, Fortinbras, and

### Hamlet as Victim and Hero

1301 words - 5 pages Hamlet as Victim and Hero      Hamlet, Prince of Denmark, a Shakespearean tragedy, tells the story of Prince Hamlet, who gained the knowledge of a terrible incident that his kingdom had suffered. Claudius, the king of Denmark and Hamlet's uncle, had killed his own brother, the king, who was also the father of Hamlet, and married his brother's widow. Hamlet suffered these traumas to a severe degree, and his only relief was to defeat his

### Essay on Light and Dark in Antigone

1188 words - 5 pages Use of Light and Dark in Antigone   The "Golden Age" of Greece is noted for its many contributions to the creative world, especially in its development of the play. These performances strived to emphasize Greek morals, and were produced principally for this purpose. Antigone, by Sophocles, is typical. The moral focused on in Antigone is the conflict between physis (nature) and nomos (law), with physis ultimately presiding over nomos

### charant Creon as the Main Character of Antigone

1231 words - 5 pages Creon as the Main Character of Antigone   Throughout the Greek play Antigone by Sophocles, there exists a dispute as to who should receive the designation of main character. Antigone, the daughter of the cursed King Oedipus, as well as Creon, stately king of Thebes, both appear as the key figures in this historic play. I believe that Creon, king of Thebes, should be considered the main character in this work of Greek theater. Three

## Similar Essays

### Ethically Defensible Decision Making By Danaa Ross This Paper Defines Ethically Defensible Decisions, Elements Of Ethnically Defensible Decision, And Gives Examples.

1236 words - 5 pages , and give examples of ethically defensible decisions you might encounter in your workplace. After this is understood, I will describe to you a situation that occurred where the lines were blurred in my workplace, and I chose to use critical thinking to overcome the potential disaster. After the situation is clear, I will spend some time discussing ground rules, which are a part of ethical decision making, whether written or implied. Finally, I

### Ob Diversity Essay

8290 words - 33 pages 2005 Workplace Diversity Practices Survey Report A Study by the Society for Human Resource Management 2005 Workplace Diversity Practices Survey Report Evren Esen SHRM Survey Research Specialist ResearchSHRM October 2005 This report is published by the Society for Human Resource Management (SHRM). The interpretations, conclusions and recommendations in this report are those of the author and do not necessarily represent those of SHRM. All

### Russian American Business Relations Essay

8476 words - 34 pages conflicts between citizens,and providing the rights and free-Interviewwith Dmitry N. KozakDeputy Head of the Russian Presidential AdministrationBUSINESS REPORT VOL.9 NO.3 BUSINESS REPORT VOL.9 NO.3doms of the citizens. The governmentshould be accountable to civil society.To that extent appropriate institutionsof civil society need to exist, and themechanism for the interaction ofthese institutions should also bedeveloped and clearly written

### The Benefits Of Concealed Carry In The United States

3298 words - 13 pages , which in their 2007 report as to why arming college students is a terrible idea, outlined a three step process that they claim is a “step-by step campaign to force guns into every nook and cranny of American society” that includes expanding the pre-existing number of legal and law abiding citizens that practice conceal carry, forcing firearms onto business property and finally forcing guns onto schools and campuses (No Gun Left Behind 1) . The