Question

11. The demand for a monopolist's product is given by Q - 400 4P while the monopolist's marginal cost is given by MC-2Q The profit-maximizing quantity of output for this monopolist is A) 100 C) 40 B) 44-44 D) 20 There is a payoff matrix of two firms; their different profits are listed when they choose collusion or competition (answer 14-15). firm B collusion 27.5 19, 19 competition competition14, 14 5. 28 firm A collusion 12. In the game above, who has dominant strategy? A) Player A has a dominant strategy B) Player B has a dominant strategy C) Both players have dominant strategies. D) Neither player has a dominant strategy. 13. Which one is the Nash equilibrium? A) firm A competition, firm B competition. C) firm A collusion, firm B competition. B) firm A competition, firm B collusion. D) firm A collusion, firm B collusion. In the following game, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (a9-20). Player B B1 B2 Player A A1 5,6 7,2 A2 4,5 9,1 14. In game above, a) Player A choosing Ai and Player B choosing Bi is a Nash equilibrium. b) Player A choosing Az and Player B choosing B2 is a Nash equilibrium. c) there is no Nash equilibrium. d) there are multiple Nash equilibria in pure strategies. 15. In game above, a) Player A has a dominant strategy b) Player B has a dominant strategy c) Both players have dominant strategies. d) Neither player has a dominant strat

Answer 1