Question
1. Which of the following are optimization problems? Which are equilibrium problems? [Note: You need not give the actual answers to the questions, but you
1. Which of the following are optimization problems? Which are equilibrium problems? [Note: You need not give the actual answers to the questions, but you might think about them.] a. Is it more profitable for a business to offer occasional special sales at reduced prices, or to stick with moderate prices year-round? b. Would a gold discovery in Hawaii raise apartment rents on the island? c. If the punishment for murder were made more severe, would there be fewer murders? d. As a military commander, should I attack now when the enemy doesn't expect it or wait for my reinforcements, even though the enemy will then be alerted? e. Over the year, why is the price of strawberries more variable than the price of potatoes? f. If my wife and I have had three girl babies in a row, should we give up or try again for a boy?
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