problem set 3

# problem set 3 - Econ 102B(SSII 2008 Problem Set 3(You don't...

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Econ 102B (SSII 2008) Problem Set 3 (You don’t need to turn in solutions. But you are responsible for them!) 1) For each of the following three games in normal form, answer the following questions: (i) What is the set of Nash equilibria of the game? (ii) Does any strategy of any player dominate any other strategy of the same player in the game? If your answer is “yes”, then identify such strategies. (iii) Does any player have a dominant strategy in the game? If your answer is “yes”, then identify such strategies. Game 1 Player 2 Player 1 a’ b’ c’ a 5, 4.5 2, 7 3, 2 b 4, 3 6, 8 4, 2 c 4.5, 1 4.5, 1 4, 2.5 Game 2 Player 2 Player 1 a’ b’ c’ a 5, 4 6, 7 4, 8 b 2, 1 2, 2 3, 3 c 4, 1 6, 2 1, 2 Game 3 Player 2 Player 1 a’ b’ c’ a 5, 4 6, 7 4, 8 b 2, 1 2, 2 3, 3 c 4, 3 6, 2 5, 2 2. Consider a duopolistic market where the two producers, 1 and 2, choose their respective quantities simultaneously. The total cost functions of the two producers are given by: TC 1 = 2Q 1 and TC

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## This note was uploaded on 07/06/2009 for the course ECON 102b taught by Professor Ozan during the Summer '08 term at UC Riverside.

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problem set 3 - Econ 102B(SSII 2008 Problem Set 3(You don't...

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