Three players live in a town and each can choose to contribute to fund a streetlamp. The value of having a streetlamp is $3 for each player; the value of not having a streetlamp is $0. The mayor asks each player to contribute a dollar, but each player may agree to do so or not. (Each player contributes $1 or $0.) If at least 2 players contribute, the lamp will be erected; otherwise the lamp is not erected and the mayor keeps the money collected. (a) Write down the normal form of this game. Your game should have 8 strategy profiles: the lamp is erected in four of them, and is not erected in the other four. (b) Identify dominant strategies and dominated strategies, if any, for each player. (c) Which of the eight strategy profiles constitute a Nash equilibrium

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Areal estate agent is considering changing her cell phone plan. there are three plans to choose from, all of which involve a monthly service charge of $20. plan a has a cost of $.42 a minute for daytime calls and $.17 a minute for evening calls. plan b has a charge of $.52 a minute for daytime calls and $.15 a minute for evening calls. plan c has a flat rate of $80 with 275 minutes of calls allowed per month and a charge of $.38 per minute beyond that, day or evening. a. determine the total charge under each plan for this case: 150 minutes of day calls and 70 minutes of evening calls in a month. (do not round intermediate calculations. round your answer to 2 decimal places. omit the "$" sign in your response.)c. if the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal? (round each answer to the nearest whole number. include the indifference point itself in each answer.)d. suppose that the agent expects both daytime and evening calls. at what point (i. e., percentage of total call minutes used for daytime calls) would she be indifferent between plans a and b?

Vincent enjoys investing his money in ways that can generate a return. he realizes that also a chance that his investment will decrease in value. this chance is known as a. opportunity cost b. risk c. recession d. deterioration