Equillibrium torsion and Compatibility torsion are important parameters used in torsional design.
1) Explain, with examples, the difference between equilibrium and compatibility torsion.
5. Explain the difference between a Nash equilibrium and a dominant strategies equilibrium. Give an example to show how the prisoners' dilemma helps to explain behaviour. 6. Why might a firm set prices based on a markup above average cost rather than equalising marginal costs and marginal benefits? 7. Using a diagram, explain how an external cost of production (i.e. a negative production externality) can be internalised with a tax. |8. Explain the conditions of price discrimination. Give two examples...
1) list three examples of true restraints. explain the difference between true restraints and restraint alternatives
Explain the difference between adverse selection and moral hazard using examples for each.
Explain the difference between inference and assumption? Provide concrete examples of both concepts.
What is the difference between ICC binding and ICC redundant Incentive compatibility constraints (ICC)
Explain the difference between the primary and secondary sources of repayment, and list examples of each. In particular, explain why it may be difficult to depend on liquidating collateral to recover a loan.
Explain the difference between fixed and variable costs and give two examples of each. Can a company budget for variable costs? Explain.
7. Explain connections between role of glycoproteins, blood groups and blood donor compatibility 7. Explain connections between role of glycoproteins, blood groups and blood donor compatibility
Explain the difference between natural and strategic barriers of entry in an olgipoly, while listing examples for each?
1. Explain the difference between phase equilibrium and metastable phase. 2. Give three variables that determine the microstructure of an alloy. 3. Two nur