« previous next »

Author Question: What is backward induction? What will be an ideal response?[br][br][b][color=#165FFA]Question ... (Read 40 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
What is backward induction?
 
  What will be an ideal response?

Question 2

The above figure shows the U.S. market for 1 carat diamonds. Area B + area D is the
 
  A) decrease in consumer surplus due to the import quota.
  B) importers' profit from the quota.
  C) gain in total surplus due to the import quota.
  D) deadweight loss from the import quota.
  E) increase in producer surplus due to the import quota.


kthug

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

Backward induction is the procedure of solving an extensive-form game by first considering the last mover's decision in order to deduce the decisions of all previous movers.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

A Splash of Color in a Frozen World of White A Splash of Color in a Frozen World of White
Cytoplasmic response to a signal: the stimulation of glycogen breakdown by epinephrine. Cytoplasmic response to a signal: the stimulation of glycogen breakdown by epinephrine.
Question continued Question continued
this is a math question this is a math question
economic question economic question
economic question economic question
Video: Role of ATP in muscle movement

For a complete list of videos, visit our video library