A) be part of a Nash equilibrium. B) be a set of probabilities of selecting each possible action. C) lead identical firms to choose different actions. D) All of the above. A) be part of a Nash equilibrium. B) be a set of probabilities of selecting each possible action. C) lead identical firms to choose different actions. D) All of the above.

Exam 13: Game Theory

-The above figure shows the payoff to two airlines,A and B,of serving a particular route.If the two airlines must decide simultaneously,which one of the following statements is true?

(Multiple Choice)

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Question 41

-The above figure shows the payoff matrix for two firms,A and B,choosing to produce a basic computer or an advanced computer.Which of the following is a Nash equilibrium?

(Multiple Choice)

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Question 42

Suppose two firms,A and B,are simultaneously considering entry into a new market.If neither enters,both earn zero.If both enter,they both lose 100.If one firm enters,it gains 50 while the other earns zero.Set up the payoff matrix for this game and determine if any Nash equilibria exist.Can you predict the outcome? What if firm A gets to decide first?

(Essay)

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Question 43

For the following, please answer "True" or "False" and explain why. -All Nash equilibria consist of Dominant Strategies

(True/False)

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Question 44

In the ultimatum experiment,what are the usual outcomes?

(Multiple Choice)

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Question 45

-The above figure shows the payoff to two airlines,A and B,of serving a particular route.If the two airlines must decide simultaneously,which one of the following statements is true?

(Multiple Choice)

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Question 46

A sale in which property or a service is sold to the highest bidder is called a(n)

(Multiple Choice)

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Question 47

For the following, please answer "True" or "False" and explain why. -In auctions,the winner always pays a price equal to the highest (his)bid.

(True/False)

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Question 48

In a two-player simultaneous game,if player A has a dominant strategy and player B does not,player B will

(Multiple Choice)

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Question 49

A private auction is an auction in which

(Multiple Choice)

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Question 50

-The above figure shows the payoff for two firms,A and B,that must each choose to produce either an advanced computer or a basic computer.Determine the dominant strategies for each firm (if any)and the Nash equilibria (if any).

(Essay)

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Question 51

-The above figure shows the payoff to two airlines,A and B,of serving a particular route.If the two airlines must decide simultaneously,how many Nash equilibria are there?

(Multiple Choice)

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Question 52

-The above figure shows a payoff matrix for two firms,A and B,that must choose between a high-price strategy and a low-price strategy.For firm A,

(Multiple Choice)

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Question 53

After analyzing his opponent a tennis player decides to serve 10% of his serves to the left,50% of his serves to the right,and 40% of his serves at the body of his opponent.This illustrates a

(Multiple Choice)

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Question 54

A mixed strategy may

(Multiple Choice)

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Question 55

-The above figure shows the payoff matrix for two firms,A and B,choosing to produce a basic computer or an advanced computer.The joint profits

(Multiple Choice)

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Question 56

-The above figure shows the payoff matrix for two firms,A and B,selecting an advertising budget.The firms must choose between a high advertising budget and a low advertising budget.Firm B's dominant strategy

(Multiple Choice)

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Question 57

-The above figure shows the payoff matrix facing an incumbent firm and a potential entrant.Assuming a fixed cost of entry,the incumbent will deter entry because

(Multiple Choice)

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Question 58

For an oligopolistic firm,which of the following can be identified as a strategy?

(Multiple Choice)

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Question 59

An incumbent announces it will significantly increase output in the next period,but only has contracts for the amount produced this period.The announcement is a

(Multiple Choice)

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Question 60

Showing 41 - 60 of 84

-The above figure shows the payoff to two airlines,A and B,of serving a particular route.If the two airlines must decide simultaneously,which one of the following statements is true?

-The above figure shows the payoff matrix for two firms,A and B,choosing to produce a basic computer or an advanced computer.Which of the following is a Nash equilibrium?

For the following, please answer "True" or "False" and explain why. -All Nash equilibria consist of Dominant Strategies

In the ultimatum experiment,what are the usual outcomes?

-The above figure shows the payoff to two airlines,A and B,of serving a particular route.If the two airlines must decide simultaneously,which one of the following statements is true?

A sale in which property or a service is sold to the highest bidder is called a(n)

For the following, please answer "True" or "False" and explain why. -In auctions,the winner always pays a price equal to the highest (his)bid.

In a two-player simultaneous game,if player A has a dominant strategy and player B does not,player B will

A private auction is an auction in which

-The above figure shows the payoff for two firms,A and B,that must each choose to produce either an advanced computer or a basic computer.Determine the dominant strategies for each firm (if any)and the Nash equilibria (if any).

-The above figure shows the payoff to two airlines,A and B,of serving a particular route.If the two airlines must decide simultaneously,how many Nash equilibria are there?

-The above figure shows a payoff matrix for two firms,A and B,that must choose between a high-price strategy and a low-price strategy.For firm A,

After analyzing his opponent a tennis player decides to serve 10% of his serves to the left,50% of his serves to the right,and 40% of his serves at the body of his opponent.This illustrates a

A mixed strategy may

-The above figure shows the payoff matrix for two firms,A and B,choosing to produce a basic computer or an advanced computer.The joint profits

-The above figure shows the payoff matrix for two firms,A and B,selecting an advertising budget.The firms must choose between a high advertising budget and a low advertising budget.Firm B's dominant strategy

-The above figure shows the payoff matrix facing an incumbent firm and a potential entrant.Assuming a fixed cost of entry,the incumbent will deter entry because

For an oligopolistic firm,which of the following can be identified as a strategy?

An incumbent announces it will significantly increase output in the next period,but only has contracts for the amount produced this period.The announcement is a

Introduction

Supply and Demand

A Consumers Constrained Choice

Demand

Consumer Welfare and Policy Analysis

Firms and Production

Costs

Competitive Firms and Markets

Properties and Applications of the Competitive Model

General Equilibrium and Economic Welfare

Monopoly and Monopsony

Pricing and Advertising

Oligopoly and Monopolistic Competition

Factor Markets

Uncertainty

Property Rights, externalities, rivalry, and Exclusion

Asymmetric Information

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