Please solve these multiple questions. These are very important to me... THANK YOU!!! 31. Which of the following games is NOT analyzed with game theory?A) State LotteryB) Pokerc) Car ChasesD) Auctions32. What aspects of a game are specified by "the rules of the game"?A) timing of players' movesB) payoffsc) information available to each playerD) All of the above33. When neither player has a dominant strategy.A) game theory will not provide information.B) no Nash-Equilibrium exists.c) at least one Nash-Equilibrium exists.D) the game cannot be analyzed.34. In a non-cooperative, imperfect infomation, simultaneous-choice, one-period game, aNash equilibriumA) will never exist.B) will always include dominant strate gies.C) will always result in both players taking the same action.D) may not maximize the sum of the fims' profits.35. If only one fim operates in a market, and a potential entrant is blockaded fromentering the market, then the incumbent firm mustA) have acted to prevent entry.B) be pricing where price equals marginal cost.C) be a natural monopoly.D) be the Stackelberg leader.36. A sale in which propernty or a service is sold to the highest bidder is called a(n)A) auction.B) bidder sale.C) competitive market.D) Austrian bundle.

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31. Which of the following games is NOT analyzed with game theory? A) State Lottery B) Poker c) Car Chases D) Auctions

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please solve these multiple questions. These are very important to me... THANK YOU!!!

31. Which of the following games is NOT analyzed with game theory?
A) State Lottery
B) Poker
c) Car Chases
D) Auctions
32. What aspects of a game are specified by "the rules of the game"?
A) timing of players' moves
B) payoffs
c) information available to each player
D) All of the above
33. When neither player has a dominant strategy.
A) game theory will not provide information.
B) no Nash-Equilibrium exists.
c) at least one Nash-Equilibrium exists.
D) the game cannot be analyzed.
34. In a non-cooperative, imperfect infomation, simultaneous-choice, one-period game, a
Nash equilibrium
A) will never exist.
B) will always include dominant strate gies.
C) will always result in both players taking the same action.
D) may not maximize the sum of the fims' profits.
35. If only one fim operates in a market, and a potential entrant is blockaded from
entering the market, then the incumbent firm must
A) have acted to prevent entry.
B) be pricing where price equals marginal cost.
C) be a natural monopoly.
D) be the Stackelberg leader.
36. A sale in which propernty or a service is sold to the highest bidder is called a(n)
A) auction.
B) bidder sale.
C) competitive market.
D) Austrian bundle.

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