...ECON-112 Principles of Microeconomics Problem Set #8 (Practice Only)-SOLUTIONS Posted: Wednesday, December 4th, 2013 Due Date: None 1. Mankiw (6th edition), Chp17, Problem 6 (page 370) a. The payoffs are: Your Decision Work You get 15 units of happiness Work Classmate gets 15 units of happiness You get 5 units of happiness Shirk Classmate gets 30 units of happiness Shirk You get 30 units of happiness Classmate gets 5 units of happiness You get 10 units of happiness Classmate gets 10 units of happiness Classmate’ s Decision b. The likely outcome is that both of you will shirk. If your classmate works, you’re better off shirking, because you would rather have 30 units of happiness rather than 15. If your classmate shirks, you are better off shirking because you would rather have 10 units of happiness rather than 5. So your dominant strategy is to shirk. Your classmate faces the same payoffs, so he or she will also shirk. Best responses are in bold. c. If you are likely to work with the same person again, you have a greater incentive to work, so that your classmate will work, and you will both be better off. In repeated games, cooperation is more likely. d. The payoff matrix would become: Your Decision Work You get 15 units of happiness Work Classmate gets 65 units of happiness You get 5 units of happiness Shirk Classmate gets 50 units of happiness Shirk You get 30 units of happiness Classmate gets 25 units of happiness You get 10 units of happiness Classmate gets...
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...Essay – League of Denial 1) Assume you have a friend who is an avid fan of North American football. What would tell your friend about the potential neurological consequences of playing football and what is currently being done to prevent neurological injuries? The first thing I would say is that while football is certainly fun and entertaining to watch, the human body was not designed to handle the frequent hard hits to the body and head as a result of playing the sport. Unfortunately these professional athletes end up suffering from brain damage as a result of our thirst and fascination for hard hits and violence. I would explain that while football helmets seem safe, they truly only provide very minimal protection against concussions that cause the brain to bounce, shake and rotate back and forth hitting against the wall of the human skull as a result of frequent football tackles that appear harmless to those watching the sport. To ensure the message hits home, I would bring up examples of their favourite former NFL players such as Hall of Famer Mike Webster who actually suffered neurological effects of playing the sport. It is important to highlight the most severe consequences first, which is that playing football can cause severe trauma to the brain as a result of multiple concussions that these athletes regularly experience. This trauma starts to destroy the integrity of the brain cells, causing a degenerative brain disease known as Chronic Traumatic Encephalopathy...
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...CHAPTER ONE – Introduction to Marketing Marketing: is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large Marketing Exchange * Exchange: is defined as the mutually beneficial transfer of offerings of value between the buyer and seller. A successful exchange involves: * Two or more parties * All parties must benefit * The exchange must meet both parties’ expectations * Value: is defined as a customer’s overall assessment of the utility of an offering based on perceptions of what is received and what is given * Value = quality / price * Value = benefits expected / benefits received * A Market is a group of customers with homogenous (similar) needs/wants * Geographic markets * Product markets * Demographic markets * Players in the market are: * Customers, consumers * Clients * Partners * Society * Ethics: a set of moral principles that guide attitudes and behaviour * Law and Regulatory Bodies: governs the conduct of individuals plus org behaviour, ensuring actions are beneficial/acceptable to society * Corporate Social Responsibility: businesses have an obligation to act in the interest of societies that sustain them * Stakeholders: individuals, organisations and other groups that have a rightful interest in the activities of a business...
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...American Holidays The following are holidays that we celebrate in the United States: New Years Eve and New Years Day New Years Day is the first day of the year, January 1st. it is a celebration of the old year and the new one to come. People make New Years Resolutions each New Years and promise themselves that they will keep this resolution until next year. New Years Eve is a major social event. Clubs everywhere are packed with party-goers who stay out all night and go nuts at midnight. At midnight it is a tradition to make lots of noise. The traditional New Years Ball is dropped every year in Times Square in New York City at 12 o’clock. This event can be seen all over the world on television. Valentine’s Day Saint Valentine’s Day is a day that is set aside to promote the idea of “love”. It is celebrated on February 14th. People send greeting cards or gifts to loved one and friends to shoe them that they care. Easter Easter is a major Christian holiday that commemorates the resurrection of Jesus Christ. It is celebrated on Sunday between March 22 and April 25. The 40 days leading up to Easter are observed as Lent. Besides the religious aspects of Easter, people also celebrate spring or the sign of the new life. Flowers are seen everywhere. There are often Easter Parades such as the one in New York City where people dress up in their new spring clothes. Children receive Easter baskets filled with candy Easter eggs, chocolate bunnies and jelly beans! The dying...
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...Adidas nike case study - Document Transcript 1. VS1 2. A COMPARITIVE ANALYSIS OF MARKETINGSTRATERGIES FOLLOWED BY NIKE AND ADIDAS TEAM MEMBERSANUPAMA VENU 09014CLAES JOTORP 09126DEEPAK TUSHIR 09032GUSTAV TENERZ 09128SAIRAM KRISHNAN 09088SANJAY SHARMA 09090SUNANDA SURESH 09112 2 3. INDEX1. INTRODUCTION 1.1. BRIEF ANALYSIS OF INDUSTRY 1.2. BRIEF DEFINITON OF INDUSTRY 1.2.1.TRENDS IN THE INDUSTRY 1.2.2.MARKET ANALYSIS 1.2.3.MAJOR PLAYERS AND MARKET SHARES 1.3. MAJOR FORCES SHAPING THE INDUSTRY 1.3.1.PORTER S FIVE FORCES 1.4. PREDICTION FOR 2009-2010 1.5. THE COMPANY AND MAJOR PRODUCT LINES 1.5.1.BRIEF HISTORY OF COMPANY 1.6. FLAGSHIP PRODUCTS, MAJOR PRODUCT LINES, RECENT FORAYS 1.7. HISTORY OF THE BRANDS2. MARKETING STRATERGY 2.1. CUSTOMERS 2.2. COMPETITORS 2.3. COLLABORATORS 2.4. COMPANY 2.5. CONTEXT 2.5.1.TECHNOLOGY 2.5.2.SOCIO CULTURAL 2.5.3.ECONOMIC3. SEGMENTATION, TARGETING, POSITIONING 3.1. MARKET SEGMENTATION 3.2. SEGMENTS TARGETED 3.3. POD S AND POP S 3.4. VALUE PROPOSITION 3.5. POSITIOING 3.6. EVOLUTION AS A BRAND4. MARKETING MIX 4.1. PRODUCT 4.2. PLACE 4.3. PRICING 4.4. PROMOTION5. ANALYSIS REPORT 5.1. CUSTOMER SURVEY 5.2. MARKETING STRATERGIES 5.3. PORTER S GENERIC STRATERGIES 5.4. CREATING VALUE 5.5. CAPTURING VALUE 5.6. SUSTAINING VALUE6. REFERENCES 3 4. INTRODUCTIONBrief Analysis of IndustrySport is an integral part of modern contemporary society. Sport has always been associatedwith discipline, dedication and perfection and hence sportsmen have always...
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