
Game Theory
Authored by Sandra Wright
Social Studies
12th Grade
Used 19+ times

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32 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which one of the following is a part of every game theory model?
Players
Payoffs
Probabilities
Strategies
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A game theorist's advice would be
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes an oligopoly?
many monopolistically competitive firms
a few firms sharing monopoly power
a former monopoly that has been broken up by the government
a government-granted franchise or monopoly
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the equilibrium of the below game?
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
According to the payoff matrix, what will YELLOW do if white goes high?
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Neither company has a dominant strategy
Both companies have an incentive to reduce production by %10
Both companies have an incentive to reduce production by %20
Only UA have an incentive to reduce production by %20
Only UB have an incentive to reduce production by %20
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The combination where Firm A advertises and Firm B does not advertise is Nash equilibrium because
it is best for each firm given what the other firm has chosen
the total industry profits are maximized
Firm A has an incentive to change its strategy and chooses not to advertise
it is the best outcome for Firm B regardless of what firm A does
advertising is always the best strategy for Firm A
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