ECN 601 Economics (ECN601)
Grand Canyon University
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ECN 601 Topic 5 DQ 1 Game Theory Grand Canyon
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Topic5DQ1 
Mar2-4, 2023 
 
The order of play tends to matter in sequential games where rivals must predict best reply-responses and counter-responses in order to achieve a desired payoff. Discuss an instance inwhich you or your firm used game theory and explain why the relationship between the playerswas a strategic one. Did the use of a credible threat or commitment affect the outcome? Werethere any first-mover offast-secondstrategiesused?
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ECN 601 Topic 5 DQ 2 Game Theory Grand Canyon
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In business, sports, politics, and many other fields there are probably countless situations akin totheprisoner'sdilemma whereplayersactingintheir ownself-interest donot produceanidealoutcome. Likewise, some player dynamics also illustrate other game theory concepts like a gameof chicken, credible threats/commitments, and other similar concepts. Use at least one articlefrom The Wall Street Journal to discuss a strategic situation between players that resembled orusedanyoftheconcepts above.Whatc...
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ECN 601 Topic 5 Problems Chapter 15 Chapter 16 Grand Canyon
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1.	Consider the following sequential game in which player 1 selects first between A, B, C, and D,andplayer2selects secondeitherXorY.Whichstrategy doesplayer1selectinequilibrium? 
2.	fr1me05h.Ch15-2.01: What is the Nash equilibrium of the following game? 
3.	fr1me05h.Ch15-3.01: Which of the following is true of a prisoner’s dilemma? 
4.	Consider the following game representing hockey team’s choices to wear a helmet or not prior to the NHL mandating the wearing of helmets. 
5.	What is the Nash...
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ECN 601 Topic 6 DQ 1 plus DQ 2 Decision Making and Uncertainty Grand Canyon
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Whatisthedifferencebetweenriskanduncertainty?Provideexamplesofwhatyourorganizationhasdone,ornotdone,todealwithriskanduncertainty.Howdidthoseactionsaffectthefirmonceacontingencyofriskoruncertaintymaterialized? 
 
Topic 6DQ2 
Mar9-13,2023 
 
Howdoesthefinancialstrengthofanorganizationinfluencedecisionmakingandoutcomes?Provideexamplesthatsupportyourrationale.
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ECN 601 Topic 6 DQ 1 Decision Making and Uncertainty Grand Canyon
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Whatisthedifferencebetweenriskanduncertainty?Provideexamplesofwhatyourorganizationhasdone,ornotdone,todealwithriskanduncertainty.Howdidthoseactionsaffectthefirmonceacontingencyofriskoruncertaintymaterialized?
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ECN 601 Topic 6 DQ 2 Decision Making and Uncertainty Grand Canyon
- Other • 2 pages • 2023
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Topic 6DQ2 
Mar9-13,2023 
 
Howdoesthefinancialstrengthofanorganizationinfluencedecisionmakingandoutcomes?Provideexamplesthatsupportyourrationale.
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ECN 601 Topic 6 Problems Chapter 17- 19- 20 Grand Canyon (60+ Q;s and A's)
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1.	Question: The expected value of an uncertain outcome is: 
2.	Question: If your uncle offers you a deal with an expected value much greater than your cost to take part: 
3.	Question: You have to choose between risky options A and B. You calculate the expected value of A is greater than the expected value of B by am3%. Your likely course of action is: 
4.	Question: You have to decide whether to sell widgets for $5 or $6 when your marginal cost is $3. In the past, you have had 15% success mak...
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ECN 601 Topic 7 DQ 1 plus DQ 2 Labor Markets Grand Canyon
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Topic 7DQ1 
Mar16-18,2023 
 
Giveexamplesfromyouremploymenthistorywhereyouwitnessedmoralhazardintheworkplace.Whatweretheincentivesthatgaverisetomoralhazard?Didthefirmtakestepstoeliminatemoralhazard? 
 
 
Topic 7DQ2 
Mar16-20,2023 
 
Beginbylocatingascholarlyarticleregardingtheeffectsofincreasesonminimumwagesanddiscussitsfindings.Doesaminimumwageincreaseleadtoreductionsinemployment,oristheoveralleffectonemploymentnetpositive?Doyouagreeordisagreewiththeresultsofthestudy?Whatdoyouthinkareothervital...
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ECN 601 Topic 7 DQ 1 Labor Markets Grand Canyon
- Other • 2 pages • 2023
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Topic 7DQ1 
Mar16-18,2023 
 
Giveexamplesfromyouremploymenthistorywhereyouwitnessedmoralhazardintheworkplace.Whatweretheincentivesthatgaverisetomoralhazard?Didthefirmtakestepstoeliminatemoralhazard?
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ECN 601 Topic 7 DQ 2 Labor Markets Grand Canyon
- Other • 2 pages • 2023
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Topic 7DQ2 
Mar16-20,2023 
 
Beginbylocatingascholarlyarticleregardingtheeffectsofincreasesonminimumwagesanddiscussitsfindings.Doesaminimumwageincreaseleadtoreductionsinemployment,oristheoveralleffectonemploymentnetpositive?Doyouagreeordisagreewiththeresultsofthestudy?Whatdoyouthinkareothervitalconsiderationsthatshouldbetakenintoaccountinthestudy?Discusshowconsciouscapitalismwouldapproachaminimumwageincrease.Provideexamplestosupportyourrationale.
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