final_2005

# final_2005 - Professor Rod Garratt December 9 2005 Econ...

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Professor Rod Garratt December 9, 2005 Econ 210B Final Exam – Fall 2005 You can earn up to 50 points on this exam. You have 2 hours to complete this exam. Explain everything that needs explaining. Good Luck! 1. Two identical firms each simultaneously choose a non-negative quantity of output. There are no costs. The payoff to firm i as a function of the outputs is Π i (q i , q -i ) = (100 - q i - q -i )q i . Show that for each firm, any level of output greater than 50 is strictly dominated. (5 points) 2. On the hit TV show Survivor Thailand two tribes competed in a game they called Thai 21. The game starts with 21 flags in a circle. The teams take turns removing flags from the circle until they are all gone. The team that removes the last flag wins immunity. At each turn teams must remove 1, 2 or 3 flags. Team 1 moves first. How many flags should Team 1 take on its first move? (5 points) 3. Consider the two-player Bayesian game in which S 1 = {T,B} and S 2 = {L,R}, each player has two types Θ 1 = Θ 2 = {0,1}, and each type profile is equally likely, i.e., p(0,0) = p(0,1) = p(1,0) = p(1,1) = ¼.

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final_2005 - Professor Rod Garratt December 9 2005 Econ...

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