a Firm A and Firm B decide to launch their new products in the market. Each firm can choose to either sell the product at a high price (H) or a low price (L). The estimated payoff table is as follows: Firm B L H Firm A L (250, 150) (280, 130) H (140, 180) (270, 190) (Firm A's payoff is given before the comma, and Firm B's payoff is given after the comma.) i What are the dominant strategies (if any) for Firm A and Firm B respectively? ii What is the Nash equilibrium outcome, if any? Explain. ( iii If Firm A can decide on what strategy to use first, what will be the Nash equilibrium (if any) of this sequential game? Explain with the aid of a tree diagram. b Explain why the market of health insurance is less efficient with the presence of asymmetric information. (Assume the insured knows more about his/her health condition than the insurance provider.)

Could you please answer questions d and e.

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Question 32 Which points represent a production level that could lead to unemployment? 12 10 Thousands of sedans 8 9 4 A 2 D B C 0- 0 2 4 6 8 10 12 Thousands of convertibles Full text description Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. Q Search

how was EVwSample info calculated for this problem?

This ended up being wrong. Can you please re-do? Thanks

do it with pencil and paper

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Imagine you are the mayor of a town and you are trying to decide if you should pay for a fireworks show. Your staff survey your 400 citizens who say that they each value a fireworks show at $10. The fireworks show only costs $3,000 so you put on the show but when you ask for donations to pay for the fireworks you only receive $25 total. What does this result show? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. You staff's survey must have overestimated the value of a fireworks show. b The fireworks cost must have been greater than their economic benefit. The firework show suffered from the Tragedy of the Commons problems d The town's citizens were free-riders.

Please answer question D