Big Pig and Little Pig have two possible strategies, press the button and wait at the trough. If both pigs choose wait, but get 3. If both pigs press the button then Big Pig gets 0 and Little Pig gets 1, if Little Pig presses the button and Big Pig waits at the trough, then Big Pig gets 10 and little pig gets 0. Finally, if Big Pig presses the button and Little Pig waits, then Big Pig get 7 and Little Pig gets 1. In Nash equilibrium: a. Little Pig will get a payoff of 1 and Big Pig will get a payoff of 2.
b. Little Pig will get a payoff of 2 and Big Pig will get a payoff of 8.
c. both pigs will wait at the trough.
d. Little pig will get a payoff of zero.
e. the pigs must be using mixed strategies.

Refer to the payoff matrix. suppose that speedy bike and power bike are the only two bicycle manufacturing firms serving the market. both can choose large or small advertising budgets. is there a nash equilibrium solution to this game?

Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.