You Have Been Hired as a Consultant to Work with a Group

question 1

Essay

You have been hired as a consultant to work with a group of people in a small town. The town is facing problems with a decision on whether to develop agricultural land for housing and commercial uses or keep it as agricultural land. The town is split three ways: (1) all housing and commercial uses; (2) all agriculture; and (3) find a way to do both. Explain how you can use game theory to help you in your work. Be sure to include problems with game theory you may encounter.

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Definitions:

Advertising Expense

Costs incurred by a business to promote its products or services through various media channels.

Proportion

A part, share, or number considered in comparative relation to a whole.

Sales

Income received from selling goods or services over a period of time.

Direct Expenses

Costs that can be directly traced to a specific cost object, such as a product, department, or project.