EXERCISE 73.1 (Electoral competition between candidates who care only about the winning position) Consider the variant of Hotelling's model in which the can- didates (like the citizens) care about the winner's position, and not at all about winning per se. There are two candidates. Each candidate has a favorite position; her dislike for other positions increases with their distance from her favorite po- sition. Assume that the favorite position of one candidate is less than m and the favorite position of the other candidate is greater than m. Assume also that if the candidates tie when they take the positions x₁ and x2 then the outcome is the com- promise policy (x₁+x2). Find the set of Nash equilibria of the strategic game that models this situation. (First consider pairs (x₁, x2) of positions for which ei- ther x₁ < m and x₂ < m, or x₁ > m and x₂ > m. Next consider pairs (x₁, x2) for which either x₁ < m < x2, or x₂ < m < x₁, then those for which x₁ = m and x2 m, or x₁ m and x2 = m. Finally consider the pair (m, m).)

Explain what you have learned (Scams) and how this topic will help you in the future in a microeconomics class.

MICROECONOMICS  ( ALL OF IT IS ONE QUESTION!!!) For the article write the number of the graph that best describes what happened. King Size Beds For some couples, the solution for too much pandemic togetherness is saying good night on Valentine’s Day in a bigger bed where they don’t need to touch. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. Robert Pagano and his girlfriend, Tracy Jones, weighed the pros and cons of switching to a king from a queen last year. The couple, who live in Las Vegas, had been getting on each other’s nerves when they were stuck working from home. “We hoped a bigger bed would help us avoid arguments,” Mr. Pagano said. “But we were…

When do we use Opportunity-Cost Approach?