What is the Professor's expected payoff in equilibrium? MRS. PEACOCK Conservatory Ballroom Revolver 1,3 3,2 PROFESSOR PLUM Knife 2,-2 1,4 Wrench 0,6 5,0

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a) Consider that 2 agents make up the demand side of a market. Person A's marginal benefits are MBA 60-0.25Q, and person B's marginal benefits are MBB 60 GB Find  market-level marginal benefits

Please no written by hand solution A local KFC franchisee is evaluating the number of fried chickens to produce each day. The following table shows the 4 alternatives, the states of nature and their payoffs       Daily Supply           40 50 60 70 Daily Demand 40 $80 $0 -$80 -$160   50 $80 $100 $20 -$60   60 $80 $100 $120 $40   70 $80 $100 $120 $140 What would your decision be if the following rules are applied? (show your calculation) Maximax Maximin La Place Minimax-regret