Bigbox and cheapstore are the only two firms in a market. each firm must decide whether to price high or price low. the payoffs from each strategy combination are shown to the right long dash in millions of dollars. the first number in each pair is bigbox's profit; the second is cheapstore's profit. suppose that this is a repeated game; that is, the two firms must set prices every month, and thus they are interested in maximizing profits over time. if last month, bigbox set a high price, this month, cheapstore should set a

(4 points) suppose the production function in the solow model is given by yt = ak¯ 3/4 t l 1/4 t . (a) what are the five equations and five unknowns that summarize the solow model? (b) show the transition dynamics in the solow model if ¯sy0 < ¯dk0. make sure you label the axes, curves, initial level of capital and steady-state level of capital. (c) solve for capital, output, capital per person, and output per person in the steady state. (d) if a¯ = 2, l¯ = 4, ¯s = 0.2, and ¯d = 0.05, calculate the steady-state level of capital and output per person.

You are the manager of the packaging department in a cookie factory. (obviously, the packaging employees cannot eat the cookies that are transferred in during the period.) after your employees insert cookies into colorful packages (step 1) for display on store shelves, the packages of cookies are then boxed using cardboard cartons (step 2) for shipment to stores. each unit of product is represented by a carton of packaged cookies. the packaging department began the period with 1,000 units of cookies. during the period, 5,000 units of cookies were transferred in from the baking department and 5,500 units of cookies were transferred out to the finished goods department. the number of units of cookies in the ending inventory of the packaging department equals:

Josie just bought her first fish tank a 36 -gallon glass aquarium, which she’s been saving up for almost a year to buy. for josie, the fish tank is most likely what type of purchase