Firm B Q=5 Q=6 Firm A Q=5 16,16 12,18 Q = 6 18,12 13,13 The Nash equilibrium in this game is Q=6 for firm A and Q- 6 for firm B. Q=6 for firm A and Q-5 for firm B. Q=5 for firm A and Q-6 for firm B. Q=5 for firm A and Q5 for firm B.
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- one two X, 14 three four Firm B Low Firm A Sell High 6, Y Buy Low Let X = 9, Y = 15 and Z=10. This game has 10, Z Firm B High 8,8 Nash equilibrium.Refer to the accompanying game. Firm A Which of the following is true? Multiple Choice O O O Low Price High Price O None of the answers is correct. Firm B Low Price (10,9) (-10,7) A dominant strategy for firm A is "high price." 19 There does not exist a dominant strategy for firm A. A dominant strategy for firm B is "low price." High Price (15,8) (11,11)(b) ROWENA up Answer 1: up Answer 2: In this simultaneous move game, the iterated dominance equilibrium is (Rowena's . Colin's left left Answer 3: ). This game has two Nash equilibria one of which is the iterated dominance equilibrium. The other Nash equilibrium, which is not the IDE, is (Rowena's down Colin's right down Up Down Answer 4: Left right 0,0 0,0 COLIN Right 0,0 1,1
- 14.2. Ignoring mixed strategies, does the following game have a Nash equilibrium? Does it have more than one Nash equilibrium? If so, what are they? Player 2 West East 21 3,2 North 1000, 900 Player1 South 21Consider the following simultaneous game: Player 1 U D Player 2 L 20,-10 -10, 20 R -10, 20 20,-10 Please indicate whether each of the following statements is true or false. Player 1 has a dominant strategy. This game has a Nash equilibrium. This game has a Nash equilibrium in pure strategies. Player 1's best response is D if player 2 plays R.GAME 5 Player B B1 B2 Player A A1 7,3 | 5, 10 A2 3, 8| 9, 6 In Game 5 above, O Neither player has a dominant strategy. O Player B has a dominant strategy. O Player A has a dominant strategy. O Both players have dominant strategies.
- Firm B Q = 5 Q=6 Firm A Q= 5 16,16 12,18 Q = 6 18,12 13,13 The Nash equilibrium in this game is Q = 5 for firm A and Q = 5 for firm B. Q = 6 for firm A and Q = 6 for firm B. %3D Q = 5 for firm A and Q = 6 for firm B. Q = 6 for firm A and Q = 5 for firm B. %3DPlayer 1 b C d Player 2 X y 3,2 1,1 4,3 3,5 1,3 3,0 2,4 1,5 2,1 0,1 1,2 1,0 1,0 2,0 2,1 4,2 W N . Does this game have any strategies that are strictly dominated?Question 29 Firm B Q = 3 Q= 4 Firm A Q = 3 16,16 12,18 Q = 4 18,12 13,13 The Nash equilibrium in this game is Q = 4 for firm A and Q = 3 for firm B. %3D Q = 3 for firm A and Q = 3 for firm B. %3D Q = 3 for firm A and Q = 4 for firm B. %3D Q = 4 for firm A and Q = 4 for firm B.
- Consider the game in the table below. Is the Nash Equilibrium efficient? Enter 111 for YES and 222 for NO. Firm A Left Right 10,6 Up Firm B 9,5 Down 5,10 7,82- Consider the following game. Player 2 Player 1 U 12, 2 | 3, 9 5, 8 4, 2 D (a) Find all the Nash equilibria, pure and mixed. (b) Suppose that the payoff of the column player u:(D, L) is reduced from 8 to 6, but all other payoffs remain the same. Again, find all the pure- and mixed-strategy Nash equilibria. (c) Compare the mixed-strategy equilibria in parts (a) and (b). Did this worsening in one of player 2's payoffs change player 2's equilibrium mixed strategy? Did it change player l's? Give some intuition.Find the unique Nash equilibrium of a game with the following payoff matrix: Player 2 2 4 1 (6, 7) (13, 8) (9, 9) Player 1 3 (4, 4) (7, 7) (7, 6) (7, 7) (11, 11) (7, 13) О a. (3, 2) O b. (5, 4) О с. (11, 11) O d. (1, 6) O e. There is no unique Nash equilibrium.