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Author Question: The above figure shows a payoff matrix for two firms, A and B, that must choose between a high-price ... (Read 1209 times)

Collmarie

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Reply #20 on: Jun 18, 2019


The above figure shows the payoff matrix for two firms. A chemical firm must choose between a low level of production which yields one ton of pollution into a nearby lake and a high level of production which yields two tons of pollution into the nearby lake. A private beach on the lake must decide whether to operate or not. Increased pollution reduces the number of people who wish to visit the beach. If the beach owner also owns the lake, and the chemical firm must pay $10 per ton to pollute, then
◦ the beach shuts down and the chemical firm produces 1 ton of pollution.
◦ the beach shuts down and the chemical firm produces 2 tons of pollution.
◦ the beach operates and the chemical firm produces 1 ton of pollution.
◦ the beach operates and the chemical firm produces 2 tons of pollution.
Microeconomics ¦ Perloff ¦ 8th Edition
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ilianabrrr

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Reply #21 on: Jun 18, 2019
the beach operates and the chemical firm produces 1 ton of pollution.


Collmarie

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Reply #22 on: Jun 18, 2019
Excellent


ilianabrrr

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Reply #23 on: Jun 18, 2019
Great! Please up vote :D


mmm

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Reply #24 on: Jun 18, 2019


The above figure shows the payoff matrix for two firms. A chemical firm must choose between a low level of production which yields one ton of pollution into a nearby lake and a high level of production which yields two tons of pollution into the nearby lake. A private beach on the lake must decide whether to operate or not. Increased pollution reduces the number of people who wish to visit the beach. If the chemical firm owns the lake, and the beach owner must pay $10 to keep the chemical firm at just one ton of pollution, then
◦ the beach shuts down and the chemical firm produces 1 ton of pollution.
◦ the beach shuts down and the chemical firm produces 2 tons of pollution.
◦ the beach operates and the chemical firm produces 1 ton of pollution.
◦ the beach operates and the chemical firm produces 2 tons of pollution.


Li Jun

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Reply #25 on: Jun 18, 2019
the beach operates and the chemical firm produces 1 ton of pollution.


luvbio

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Reply #26 on: Jun 18, 2019


The above figure shows the payoff matrix for two firms. A chemical firm must choose between a low level of production which yields one ton of pollution into a nearby lake and a high level of production which yields two tons of pollution into the nearby lake. A private beach on the lake must decide whether to operate or not. Increased pollution reduces the number of people who wish to visit the beach. As long as someone owns the lake and the two parties can negotiate, then
◦ the beach shuts down and the chemical firm produces 1 ton of pollution.
◦ the beach shuts down and the chemical firm produces 2 tons of pollution.
◦ the beach operates and the chemical firm produces 1 ton of pollution.
◦ the beach operates and the chemical firm produces 2 tons of pollution.


carlsona147

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Reply #27 on: Jun 18, 2019
the beach operates and the chemical firm produces 1 ton of pollution.


luvbio

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Reply #28 on: Jun 18, 2019
TY


carlsona147

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Reply #29 on: Jun 18, 2019
You're welcome


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