34) A. Combined profit is maximised when both produces 30million pounds
35)B. Nash equilibrium is a strategic set where there is no incentive for any player to change their strategy given the strategy of other.
Thus playing/producing 40 million pounds is dominating strategy for both players
Use the following to answer questions 34-35 Figure: Payoff Matrix for Ajinomoto and ADM Ajinomoto Produce...
Use the payoff matrix to answer the following questions. Firm K Strategy A B Firm J X 8, 8 18, -4 Y -4, 18 10, 10 (2 points) Does Firm J have a dominant strategy? If so, what is it? (2 points) Identify all of the Nash equilibrium positions. If there is no Nash equilibrium, indicate “None.” (2 points) Assume this is a one-shot, simultaneous game. Where will the game end? If the end game cannot be predicted indicate “No...
Question 2 8 pts (8 points) Use the payoff matrix to answer the following questions. Firm Strategy A X 8,8 18,-4 Firm Y -4, 18 10, 10 1. (2 points) Does Firm Jhave a dominant strategy? If so, what is it? 2. (2 points) Identify all of the Nash equilibrium positions. If there is no Nash equilibrium, indicate "None." 3. (2 points) Assume this is a one-shot, simultaneous game. Where will the game end? If the end game cannot be...
Question 2 8 pts Use the payoff matrix to answer the following questions Firm Strategy А B х 8,8 18.-4 Firm Y -4,18 10.10 1.12 points) Does Firm have a dominant strategy? If so, what is it? 2.12 points) Identify all of the Nash equilibrium positions. If there is no Nash equilibrium, indicate 'None." 3.(2 points) Assume this is a one-shot, simultaneous game. Where will the game end? If the end game cannot be predicted indicate "No prediction possible 4.(2...
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Strategy A B Player 2 Y -75, 15 T 30, 30 X 60, 60 15, -75 L Player 1 a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For...
Use the following information to answer questions 34 and 35. The following transactions occurred for the Summerhill Company during the month of November: 2400x =100 Nov. 1 The company bought and paid $2,400 for a 2 year insurance policy. Nov. 15 A telephone bill in the amount of $150 was received and is due in 30 days. 250 Nov. 20 The company bought 20 units of inventory for $5,000 by paying 50% cash with the balance to be paid in...
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2 Strategy X Y Player 1 A 48, 48 -60, 8 B 8, -60 32, 32 a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s),...
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2 Strategy X Y Player 1 A 25, 25 10, -200 B -200, 10 45, 45 a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s),...
22. 3. Use the figure on the right to answer this question. In order to maximize profit,Pam should give per day and charge per lesson.c Pam gives the only piano lessons in town. Price and cost (dollars per lesson) 50 OA 4:$40 O B. 4: $20 О С. 6;$30 O D. 4; $30 O E. 2:$50 MC ATC 40 30 20 10 MR 0 2 4 6 8 10 12 Output (lessons) Click to select your answer Bud and Wise...
can you answer questions 7, 10, 11 and 13. thanks! Question Completion Status: QUESTION7 Refer to the following figure showing the reaction functions of oligopoly firms A and B OR, BR Bs Advertising In Nash equilibrium, both firms are maximizing their own profits given the level of advertising expected to be undertaken by the other firm O firm B can increase its profit by unilaterally increasing its level of advertising O firm A can increase its profit by unilaterally increasing...
Predatory Pricing Which of the followings is not the purpose of predatory pricing? A To drive competitors out of a market B To prevent entry by potential rivals C To increase its own market power O D to increase output and lower prices Economies and Diseconomies of Scale When a firm gets so large that coordination and management of workers and other inputs becomes costly and difficult, it is experiencing which of the following? O A Diseconomies of scale O...