4. Consider the following strategic environment involving a firm manager (Manager) and two workers (Worker 1 and Worker 2). The sequence of moves is as follows. In Stage 1, the Manager decides the shares of the total revenues allocated to Worker 1 and Worker 2 (each worker receives the same share of revenues). Two possible sharing rules can be chosen by the Manager: Low Sharing Rule (L, a low percentage of revenues shared with each worker) and High Sharing Rule (H, a high percentage of the revenues share with each worker).
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- Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour by hand, while Tom's experience allows him to debone 60 chicken breasts per hour by hand. Ted buys one new machine that can debone 100 chicken breasts per hour. Both Mike and Tom work the same 40 hours per week, but one of them is assigned to operate the machine instead of deboning the chicken breasts by hand. To obtain maximum average hourly productivity, is assigned to use the machine and their combined average hourly productivity as a team is chicken breasts O a. Tom; 80 O b. Mike; 65 O c. Mike; 80 O d. Tom; 65Cooper and Rebecca run the only two lawncare companies in a small town. If they worked independently, they would each earn $3000. If they cooperated, they know they could raise the price of their lawncare services and service fewer lawns, but can each earn $4500. If one person raises prices and other does not, the person who raises prices will earn $1000 and the other will earn $6000. Draw a table representing their dilemmTask Scheduling. There are three tasks a,b,c to be assigned to two agents. An agent may be assigned all tasks, some tasks, or no tasks; however, alls tasks must be assigned. The minimum times required for each task by each agent are provided in the following table. agent 1 a 2 2 task b 1 C 2 3 3 3 (a) Determine the task allocation and payments under a VCG mechanism. (b) Determine the task allocation and payments under a compensation and penalty mechanism. See definition 10.6.1 in the Multiagent Systems book. For the payment to (or from) an agent i, let the first term (i.e. hi(-i)) be the value of the mechanism's objective function when i does not participate (in the form of a payment to agent i). For both parts assume that agents know something about mechanism design. In particular, agents will be truthful and they also know how long it will take to complete each task.
- Non-linear pricing in water utilities: You are the manager of water utilities, and you are trying to determine how different water pricing schemes will affect consumption. One option for pricing is called decreasing block pricing, where the marginal price paid decreases with quantity paid. In particular, you are considering a decreasing block schedule where consumers pay $0.20 per gallon for the first 20 gallons consumed, and then $0.10 per gallon for any additional gallons consumed. For this decreasing block pricing scheme, draw the budget constraint for a consumer that has $10 of income, where the composite good is the good on the y-axis. Another option for pricing is called increasing block pricing, where the marginal price paid increases with the quantity paid. In particular, you are considering an increasing block schedule where consumers pay $0.20 per gallon for the first 20 gallons consumed, and then $0.40 per gallon for any additional gallons consumed. For this increasing…Question 2 Amazon could launch a smartphone this year that costs “a fraction” of what Apple charges for its iPhone, a new report says. Amir Efrati at The Information spills details from an allegedly leaked internal Amazon document. The paperwork is said to have been produced by a potential partner and two people who were involved in discussions with Amazon. According to Efrati, the document discussed strategies for penetrating smartphone markets in China, Europe and the United States. Earlier discussions also mentioned Latin America as a possibility. The phone, which has been referred to as “Project Aria,” is likely to go on sale this year, according to Efrati. There’s no specific price, but he says Amazon is “determined” to “keep the phone at a small fraction of the iPhone’s $550-and-up price tag.” If Amazon does launch a smartphone this year, it’s unclear if it will fall under the company’s own brand or if it will work with a partner. Efrati says Amazon was “in talks” with “multiple…Amazon could launch a smartphone this year that costs “a fraction” of what Apple charges for its iPhone, a new report says. Amir Efrati at The Information spills details from an allegedly leaked internal Amazon document. The paperwork is said to have been produced by a potential partner and two people who were involved in discussions with Amazon. According to Efrati, the document discussed strategies for penetrating smartphone markets in China, Europe and the United States. Earlier discussions also mentioned Latin America as a possibility. The phone, which has been referred to as “Project Aria,” is likely to go on sale this year, according to Efrati. There’s no specific price, but he says Amazon is “determined” to “keep the phone at a small fraction of the iPhone’s $550-and-up price tag.” If Amazon does launch a smartphone this year, it’s unclear if it will fall under the company’s own brand or if it will work with a partner. Efrati says Amazon was “in talks” with “multiple hardware…
- Amazon could launch a smartphone this year that costs “a fraction” of what Apple charges for its iPhone, a new report says. Amir Efrati at The Information spills details from an allegedly leaked internal Amazon document. The paperwork is said to have been produced by a potential partner and two people who were involved in discussions with Amazon. According to Efrati, the document discussed strategies for penetrating smartphone markets in China, Europe and the United States. Earlier discussions also mentioned Latin America as a possibility. The phone, which has been referred to as “Project Aria,” is likely to go on sale this year, according to Efrati. There’s no specific price, but he says Amazon is “determined” to “keep the phone at a small fraction of the iPhone’s $550-and-up price tag.” If Amazon does launch a smartphone this year, it’s unclear if it will fall under the company’s own brand or if it will work with a partner. Efrati says Amazon was “in talks” with “multiple hardware…Amazon could launch a smartphone this year that costs “a fraction” of what Apple charges for its iPhone, a new report says. Amir Efrati at The Information spills details from an allegedly leaked internal Amazon document. The paperwork is said to have been produced by a potential partner and two people who were involved in discussions with Amazon. According to Efrati, the document discussed strategies for penetrating smartphone markets in China, Europe and the United States. Earlier discussions also mentioned Latin America as a possibility. The phone, which has been referred to as “Project Aria,” is likely to go on sale this year, according to Efrati. There’s no specific price, but he says Amazon is “determined” to “keep the phone at a small fraction of the iPhone’s $550-and-up price tag.” If Amazon does launch a smartphone this year, it’s unclear if it will fall under the company’s own brand or if it will work with a partner. Efrati says Amazon was “in talks” with “multiple hardware…Alec and Ellie are the only detectives in the town of Broadchurch. Assume efficient production. Each has 10 hours in a day to allocate between conducting interviews and completing paperwork. They work independently and do not trade any jobs. Right now they each spend half their time completing paperwork and half their time conducting interviews. In one hour Alec can produce 8 interviews or 8 files of paperwork. In one hour, Ellie can produce 4 interviews or 8 files of paperwork. A trade is proposed between Alec and Ellie at the following price: 1 interview for 11 files of paperwork. If they trade at this price, they will fully specialize. At this price, what is the total number of interviews conducted in Broadchurch? Enter a number only.
- 5, What is meant by the phrase recognized mutual interdependence as it pertains to oligopoly? for managerial economics classEdith is the owner and manager of a small coffee shop that employs three workers who use the one coffee machine to make and serve coffee to paying customers. Business has begun to pick up; lines are getting longer everyday in her shop. She sees her employees scrambling to take orders, get cups, fill coffee from the coffee machine, add cream and sugar, and serve customers in a timely manner. She figures if she hires three more employees she’ll be able to sell twice as much coffee. Do you think she’s likely to be right? Why or why not?Question-2 A bus is crowded for travel during peak hours. During such travel hours two daily passengers ‘Ali’ and ‘Hassan’ enter the Metro. Luckily, two adjacent seats are free in the bus. Each of them must decide whether to sit or stand. For both, sitting alone is more comfortable than sitting next to the other person, which in turn is more comfortable than standing.(Note: for all parts below consider Ali as ‘row player’ and Hassan as ‘column player’. Take the game as a simultaneous game NOT sequential). Show ALL steps and working in support to your answersa) Model the situation as a strategic game, assuming both ‘Ali’ and ‘Hassan’ care only about their own comfort. b) Find the Nash equilibrium (equilibria) if it exists. c) Does a dominant strategy exist for either ‘Ali’ or ‘Hassan’?