A perfectly competitive firm operates in the short-run with labor as its only variable factor. Its production function is:
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A local county government experiences an increase in spending needs.
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IESDS: eliminating strictly dominated strategies only in an iterated manner. Whenever a game arrives at a unique outcome using the IEWDS or IESDS, we…

IESDS: eliminating strictly dominated strategies only in an iterated manner. Whenever a game arrives at a unique outcome using the IEWDS or IESDS, we call the game dominancesolvable. IESDS won”t eliminate NE but might not arrive at an equilibrium; IEWDS always could arrive at an equilibrium but might eliminate some Nash equilibria. To do when there are multiple equilibria?

 

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