Hans can do 4 loads of laundry and type 6 pages per hour. Heidi can do 12 loads of laundry and type 8 pages per hour. Hans and Heidi would both be better off if O Heidi did all of the typing and all of the laundry. O Hans specialized in typing and Heidi in doing laundry, trading with each other for the other service. O Hans specialized in doing laundry and Heidi in typing, trading with each other for the other service. O each did their own laundry and typing.

2.19. Standard setting. Suppose Apple and Samsung are in the process of negotiating a common standard for a new 3D camera tech- nology they plan to introduce in the next generation of smartphones. Apple has a preference for standard A, whereas Samsung has a pref- erence for standard S. However, both recognize that multiple stan- dards are a worse outcome for all. Specifically, Apple gets 240 if it selects A and Samsung does so too, but only 20 if Samsung does not adopt A. If Apple adopts standard S and Samsung does so too, then Apple gets a payoff of 190. If, however, Samsung chooses A then Ap- ple gets zero. For Samsung, the situation looks similar: If Samsung chooses standard S and Apple does the same then Samsung gets 210, but if Apple chooses A the Samsung's payoff is only 30. If Samsung opts for standard A and Apple does so too then Samsung gets a pay- off of 110, whereas if Apple chooses standard S then Samsung gets a payoff of zero. (a) Suppose that both Apple and Samsung…

Karen goes to the casino with 1000$ and plays the following strategy: In her first game, she putsin 1$. If she wins, she finishes playing and takes her profit home. If she looses a game, she willplay another game and put in twice as much money as she did in the previous game. If she wins,she will finish playing and take her profits home. She will keep going with that strategy, untilshe either wins a game or runs out of money.(a) Create a table for n = 1, 2, ..., 10 which lists: (a) The amount of money she puts in in game n;(b) the sum of the amount of money she has put in in all games up to this game n; and (c)her overall profit if the game n is the first game she wins.(b) What is the likelihood of her loosing 8 games in a row?(c) How many games can she loose in a row before she cannot afford to continue with herstrategy of doubling her bet?(d) Given the low likelihood of loosing, is this a smart strategy for Karen to pursue?

Kayla and Kevin are friends who go together to a used textbook seller who has two copies ofthe biology book that they both need for their class this semester. The cost to the seller ofacquiring the books was $25 each and no other students will need this book. Kayla states thatshe is willing to pay $40 for the book, while Kevin says he is willing to pay $80. Which ofthe following describes the most likely conclusion to this scenario? Group of answer choices The seller will sell the books to both Kayla and Kevin for $40 each because if they tried tocharge Kevin a higher price, Kayla would engage in arbitrage. The seller will sell one book to Kayla for $40 and one book to Kevin for $80 because thismarket meets all three requirements for price discrimination. The seller will sell the books to both Kayla and Kevin for $80 each because Kevin's highervalue exceeds Kayla's willingness to pay. The seller will sell the books to both Kayla and Kevin for $25 each because that is howmuch the…