9 - Sample Questions Chapter 9 Short Questions Try...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Sample Questions: Chapter 9 Short Questions Try questions 2 and 9 from the textbook. Multiple Choice Questions 1. Which of the following circumstances does not involve game theory? A) A local gas station owner wondering how his competition across the street will react to his decision to lower prices. B) Buying a can of beef stew at the grocery store. C) Negotiating a salary when two firms have made offers. D) Deciding whether to have an extramarital affair. E) Playing poker. 2. A game consists of A) the players, the possible strategies, and the payoffs to each strategy. B) the players and the possible strategies. C) the possible strategies and the payoffs to each strategy. D) the players and the payoffs to each strategy. E) the payoffs to each strategy. 3. A dominant strategy occurs when A) one player has a strategy that yields the highest payoff independent of the other player's choice. B)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

9 - Sample Questions Chapter 9 Short Questions Try...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online