This quiz works best with JavaScript enabled. Home > Economics > Microeconomics > Game Theory > Game Theory – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Game Theory Quiz 12 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Example for combinational search algorithm A) BFS. B) Uniform cost. C) Linear search. D) Greedy search. Show Answer Correct Answer: D) Greedy search. 2. A set of skills that an employee acquires through training and experience A) Human Capital. B) Perfect Competition. C) Interdependence. D) Imperfect competition. E) Game theory. Show Answer Correct Answer: A) Human Capital. 3. If a game has a saddle point of 2, it is a fair game. A) True. B) False. Show Answer Correct Answer: B) False. 4. 4 of diamonds, 3 of spades, 6 of clubs, 7 of hearts, 5 of clubs A) Straight. B) 1 pair. C) High card. D) Flush. Show Answer Correct Answer: A) Straight. 5. On what do players compete in a Cournot's model? A) Quality. B) Price. C) Quantity. D) Technology. Show Answer Correct Answer: C) Quantity. 6. Which of the following is true of sequential games? A) All Nash equilibria are sub-game perfect equilibria. B) Every game involves first-mover advantage. C) Backward induction is only possible where the number of subgames exeeds the number of choice nodes. D) None of the other three answers. Show Answer Correct Answer: D) None of the other three answers. 7. What type of game is Mahjong and Uno? A) Randomness game. B) Zero-sum game. C) Non-cooperative game. D) Perfect Information game. Show Answer Correct Answer: A) Randomness game. 8. Worst case value of maximiser during game playing A) -infinity. B) +infinity. C) 0. D) 1. Show Answer Correct Answer: A) -infinity. 9. What is the main criticism of learning theory? A) It oversimplifies learning as a stimulus-response effect. B) It neglects the influence of genes on behavior. C) It lacks clear and consistent expectations for good behavior. D) It does not consider the role of upbringing in learning. Show Answer Correct Answer: A) It oversimplifies learning as a stimulus-response effect. 10. What is a core? A) The Nash equilibrium of a cooperative game. B) The Bayesian information maximising equilibrium in a cooperative game. C) Solution to a cooperative game, where players cannot improve their payoffs by breaking off. D) Solution to a cooperative game, where players can improve their payoffs by breaking off. Show Answer Correct Answer: C) Solution to a cooperative game, where players cannot improve their payoffs by breaking off. 11. Individually, the best decisions are (start with self) A) Split-Split. B) Split-Steal. C) Steal-Split. D) Steal-Steal. Show Answer Correct Answer: C) Steal-Split. 12. Depends on the demand for the products. A) Collusion. B) Dominant strategy. C) Derived demand. D) Interdependence. Show Answer Correct Answer: C) Derived demand. 13. Which is the following applied in minimax algorithm? A) BFS. B) DFS. C) GREEDY. D) A*. Show Answer Correct Answer: B) DFS. 14. When firms in an oligopolistic market structure work together to ensure the best result? A) Confusion. B) Collusion. C) Induction. D) Mutual dependence. Show Answer Correct Answer: B) Collusion. 15. What is the type of game that lets you see every move your opponents make in the game? A) Perfect Information. B) Sequential. C) Imperfect Information. D) Simultaneous. Show Answer Correct Answer: A) Perfect Information. 16. A prisoners' dilemma is a game with all of the following characteristics except one. Which one is not present in a prisoners' dilemma? A) Players cooperate as their strategy. B) Both players have a dominant strategy. C) Both players would be better o if neither chose their dominant strategy. D) The payoff from a strategy depends on the choice made by the other player. Show Answer Correct Answer: A) Players cooperate as their strategy. 17. The the best decisions for BOTH players are A) Split-Split. B) Split-Steal. C) Steal-Split. D) Steal-Steal. Show Answer Correct Answer: A) Split-Split. 18. If Minimax = Maximin then the appropriate strategy to use to solve this condition is..... A) Pure Strategy. B) Cooperative games. C) Mixed Strategy. D) Non cooperative games. Show Answer Correct Answer: A) Pure Strategy. 19. What was the original purpose of game theory? A) To solve problems in economics. B) To analyze parlour games. C) To study the behavior of animals and plants. D) To determine the optimal price of products. Show Answer Correct Answer: A) To solve problems in economics. 20. If, for a given player, the expected value of a lottery is less than its certainty equivalent, that player is ..... A) Risk-seeking. B) Risk-neutral. C) Risk-averse. D) None of above. Show Answer Correct Answer: A) Risk-seeking. ← PreviousNext →Related QuizzesMicroeconomics QuizzesEconomics QuizzesGame Theory Quiz 1Game Theory Quiz 2Game Theory Quiz 3Game Theory Quiz 4Game Theory Quiz 5Game Theory Quiz 6Game Theory Quiz 7Game Theory Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books