Strayer Eco301 week 3 discussions

Discussion 1: “Game Theory.” Please respond to the
following:

·
Give two (2) examples not provided in
the textbook of how the Prisoner’s Dilemma is linked to game theory.
·
Discuss why each player was concerned
about the other player in your examples.

Discussion 2: “The Production Function.” Please
respond to the following:

·
Describe how capital and labor affect
the production function for both a toy manufacturer and a retailer during the
Christmas retail season.
·
An owner of a local movie theater is
having difficulty maximizing labor. Sometimes there are too many employees on
duty and sometimes there are not enough employees working. Discuss how you
would advise the owner using the production function.