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Determine the Nash equilibrium. (v) Is this a prisoner's dilemma? How do you know?
The Nash equilibrium in this payoff matrix is demonstrated when both Firm 1 and Firm 2 elect to charge high prices. In addition to producing identical 5% increases in profit for both firms, neither firm has an incentive to lower prices, and thus neither firm stands to gain by unilaterally adjusting its pricing policy.
2.) Respond to the charge that immigrants flood the labor market and drive down wages in the U.S.
As the increasingly politicized nature of America's immigration debate has been compounded by the effects of a prolonged national recession, major media outlets and economic pundits have decried the so-called "wage-dampening" effect caused by unchecked illegal immigration (Camarota, 2011). While several studies have indeed demonstrated at list a causal link between the influx of undocumented workers, who are usually willing to perform hard labor for cheaper wages than American citizens,...
Although critics of current immigration policy point to disturbing trends, such as the fact that "real hourly wages (inflation adjusted) for men without a high school education were 22% lower in 2007, before the recession, than in 1979 ... (or) real wages for meat packers were 45% lower in 2007 than in 1980" (Camarota, 2011), they often fail to mention how corporate consolidation within these industries has allowed employers to reduce wages with impunity. The reality is that the uniquely American brand of capitalism which has enabled this nation to become the world's preeminent superpower is highly dependent on the contributions of immigrants, both those who enter the nation legally and those who cross borders under the cover of darkness. Although the country's inadequate border control efforts are regrettable, local economies in dozens of states would grind to a halt if the unnoticed thousands of…
References
Camarota, S.A. (2011, October 11). More immigrants, lower wages. The New York Times. Retrieved from http://www.nytimes.com/roomfordebate/2011/10/09/what-happened-to- the-american-work-ethic-2/wages-and-benefits-are-vital-to-hard-work
No matter the exact figure, however, Sarah would have to earn an additional amount equal to the difference between renting an buying the building, as both options represent divergent investment strategies. 2.) According to Milton Friedman, "Business has only one social responsibility, to make profits (as long as it stays within the legal and moral rules of the game established by society). Few trends could so thoroughly undermine the very
Boyd Gaming Part III Boyd Gaming is considering purchasing some or all of Station Casinos. The company's current position is as a "local's focused" casino company, in particular with respect to its Las Vegas operations and its Coast Casinos operations as well. Boyd has already identified that it needs to become bigger in order to implement a strategy based on operational excellence, but it also wants to pursue customer intimacy as
Another study found that there are many different strategies that are utilized when information technology is developed within the federal government and many of these tend to come not from the top managers but from the management instead (Gupta, Holladay, & Mahoney, 2000). Much of this has to do with the fact that the top managers in the federal government are often political appointees and therefore know somewhat less about
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