Joe is the owner of the 7-11 Mini Mart, Sam is the owner of the SuperAmerica Mini Mart and together they are the only gas stations in town. At the current price of $3 per gallon both receive total revenues of $1,000. Joe is considering cutting his price to $2.90, which would increase his total revenue to $1,350 if Sam continues to charge $3. If Sam's price remains $3 after Joe cuts his price, Sam will collect $500 in revenues. If Sam cuts his price to $2.90, his total revenues would also rise to $1,350 if Joe continues to charge $3. Joe will collect $500 in revenues if he keeps his price at $3 while Sam lowers his to$2.90. Joe and Sam will receive $900 each in total revenue if they both lower their price to $2.90. You may find it easier to answer the following questions if you fill in the payoff matrix below 0e Keep Old ut Pri Pri Cut ice Keep Old 1. To Joe, leaving his price at $3 is a A. revenue maximizing strategy B. dominant strategy C. dominated strategy D. profit maximization strategy

When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $

In return for their with optimizing his painting project, the castle servant informed poly and digit that he saw someone dressed as the king leaving behind a trail of crumbs as he walked into the jester's room late last night. poly and digit have finally found the crisp-collecting culprit — it turns out the jester's shoe size and hair color match the clues that were found! in gratitude, poly and digit agree to the servant with his current task of replacing all of the tables and chairs in the castle. his goal is to determine which furniture company should produce the new furniture. he receives information from a company that customizes elegant furniture, and he wants to analyze the company's production process in order to calculate some problems about cost and availability. read the following scenario, and assist poly and digit as they the servant with his calculations. the fit for a king furniture company requires 2020 hours of labor to produce a standard table, and a chair requires 1212 hours of labor. the labor available is 565565 hours per week. the company can produce at most 3535 chairs per week.

Consider the labor market for heath care workers. because of the aging population in the united states, the output price for health care services has increased. holding all else equal, what effect does this have on the labor market for health care employees? a. the equilibrium wage increases and the equilibrium quantity of labor increases.b. the equilibrium wage increases and the equilibrium quantity of labor decreases.c. the equilibrium wage decreases and the equilibrium quantity of labor increases.d. the equilibrium wage decreases and the equilibrium quantity of labor decreases.