Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

problem 1: A wholesaler of sports goods has an opportunity to buy 5,000 pairs of gloves which have been declared excess by the government. The wholesaler will pay Rs. 50 per pair and can get Rs. 100 a pair by selling gloves to retailers. The price is well established; however the wholesaler is in doubt about as to just how many pairs he will able to sell. Any gloves leftover, he can sell to discount outlets at Rs. 20 a pair. After a careful consideration of the past data, the wholesaler assigns probabilities to the demand as shown:

521_wholesaler probability.jpg

a) find out the conditional monetary and expected monetary values.

b) find out the Expected Monetary Value.

c) find out the Expected Opportunity Loss.

d) find out the expected profit with a perfect predicting device.

e) find out the Expected Value of Perfect Information.

problem 2: A businessman consists of two independent investments A and B available to him however he lacks the capital to undertake both of them simultaneously. He can select to take A first and then stop, or if A is successful then take B, or vice-versa. The probability of success on A is 0.7, while on B it is 0.4. Both investments need an initial capital outlay of Rs. 2,000, and both return nothing if the venture is unsuccessful. Successful completion of A will return Rs 3,000 (over cost) and successful completion of B will return Rs. 5,000 (over cost).

Draw and assess the decision tree by the roll back technique and find out the best strategy.

problem 3: The given is a pay-off matrix for a two person game.

a) Reduce the above pay-off matrix into a 2 x 2 matrix by using dominance property.

b) Solve the 2 x 2 matrix obtained from (a) by using mixed strategy.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M96331

Have any Question? 


Related Questions in Microeconomics

Microeconomicswatch this 30 mins youtube link on how the

Microeconomics Watch this 30 mins. YouTube link on 'How The Economic Machine Works' You will enjoy it! https://youtu.be/PHe0bXAIuk0 Write down your understanding of 'How The Economic Machine Works' and make sure to suppo ...

Application evaluation of research resultsno research

Application: Evaluation of Research Results No research project or study is perfect. Studies that contain errors can produce unreliable or misleading results. As a consumer of research, you must be able to determine the ...

Goal construct a case studyresearch paper that examines a

Goal: Construct a case study/research paper that examines a firm in the U.S. from a microeconomic standpoint and provide suggestions based on your findings. Step 1: Choose a firm for your focus. In addition to picking a ...

Introduction to economic evaluation of health promotion

Introduction to Economic Evaluation of Health Promotion Interventions Assignment Evaluating Cost-effectiveness using Markov cohort models: The HPV case The goal of this assignment is to provide students with applied prac ...

Three paragarphs economicswrite 3 paragraphs answering the

Three paragarphs Economics Write 3 paragraphs answering the following questions: 1. How does each of the following relate to the financial crisis of 2007-2008: declines in real estate values, sub-prime mortgage loans, an ...

Iowa elevatorsresponses will be in a compact format the

Iowa Elevators Responses will be in a compact format. The content of the papers should not exceed three pages in length, excluding the title page, executive summary, or any references. Title Page: Executive Summary: Give ...

Assignment multiyear plans and Assignment: Multiyear Plans and Analysis Preparation •

Assignment: Multiyear Plans and Analysis Preparation • Review the document titled "City of Charlottesville 2010 Annual Comprehensive Plan" located in the course shell. Write a three to four (3-4) page paper in which you: ...

Economics and quantitative analysis assignmenttopic -

ECONOMICS AND QUANTITATIVE ANALYSIS ASSIGNMENT TOPIC - REGRESSION ANALYSIS Instructions - Background One of the biggest challenges in the higher education sector has been the recent growth of online universities. The Onl ...

Essay questionyour manager knows that you have completed a

Essay Question Your manager knows that you have completed a course in Purchasing and Materials Management. Your manager would like you to write an essay for your fellow workers about the key purchasing/ supply management ...

Can you write a great paper on a research economic topic10

Can you write a great paper on a Research economic topic 10 page paper Including abstract, introduction, content and conclusion, reference. You can choose any economic topics and analyze the issue from your own perspecti ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen