Consider the following strategic setting. there are three people: amy, bart, and chris. amy and bart have hats. these three people are arranged in a room so that bart can see everything that amy does, chris can see everything that bart does, but the players can see nothing else. in particular, chris cannot see what amy does. first, amy chooses either to put her hat on her head (abbreviated by h) or on the floor (f). after observing amy’s watson_c02_007-021hr. indd 19 11/12/12 9: 25 am 20 2: the extensive form move, bart chooses between putting his hat on his head or on the floor. if bart puts his hat on his head, the game ends and everyone gets a payoff of 0. if bart puts his hat on the floor, then chris must guess whether amy’s hat is on her head by saying either "yes" or "no." this ends the game. if chris guesses correctly, then he gets a payoff of 1 and amy gets a payoff of −1. if he guesses incorrectly, then these payoffs are reversed. bart’s payoff is 0, regardless of what happens. represent this game in the extensive form (draw the game tree).

If you miss two payments on a credit card what is generally the penalty

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]

While on vacation in las vegas jennifer, who is from utah, wins a progressive jackpot playing cards worth $15,875 at the casino royale. what implication does she encounter when she goes to collect her prize?