player 1 chooses either u or d; player 2 simultaneously chooses either l, m or r. both player know only that game 1 is played by probability p and game 2 is played by probability 1-p how many strategies player 2 has?
(first-price sealed-bid auction) alice is selling her 2000 chevrolet cavalier to her friends, bob and charles. bob attaches a value of s$8,000 to alice's old car, while charles's value of the car is s$10,000. (these valuations are common knowledge between bob and charles.) alice designs the following auction to sell her car: first, she asks each of them to write his bid on a piece of paper. then bob and charles give their bids (nonnegative integers) to alice. notice that when bob and charles write down their bids, they don't know each other's bid (so called "sealed bid"). after alice receives the sealed bids, the bids are shown to everyone, and the car will be sold to the person who has the higher bid at the price equal to his own bid. when there is a tie (bob and charles bid the same amount), then alice would flip a fair coin to decide who will get the car. in this game, bob has 8000 strategies and charles has 10000 strategies.
the heckscher-ohlin theory of trade differs from the ricardian model by assuming that there are only two goods.
which of the following are reasons why increasing marginal costs of production arise? i. different products use inputs to production in different proportions. ii. different inputs are better utilized in the production of different products. iii. different countries have different endowments of the different factors of production
perception is the way that something is understood or interpreted using your ability to see, hear, or use other senses.