This quiz works best with JavaScript enabled. Home > Economics > Microeconomics > Game Theory > Game Theory – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Game Theory Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Prisoner's Dilemma is limited in its predictability because id does NOT consider individual ..... A) Experience. B) Complexity. C) Motivations. D) All of these answers. Show Answer Correct Answer: D) All of these answers. 2. The probability of flipping a coin and landing on tails is 1/2. If you flip the coin 100 times, approximately how many times could you expect to land on tails? A) 50 times. B) 100 times. C) 200 times. D) None of above. Show Answer Correct Answer: A) 50 times. 3. What is the most predictable outcome in the Prisoner's Dilemma? A) Both prisoners will remain silent. B) Prisoner A will testify against prisoner B. C) Prisoner B will testify against prisoner A. D) Both will testify against each other. Show Answer Correct Answer: D) Both will testify against each other. 4. Jack, ten, eight, six, seven of different suits A) Flush. B) Straight. C) Straight flush. D) High card. Show Answer Correct Answer: D) High card. 5. The core component of what a player knows or does not know as they play through a game is called A) Information. B) Action. C) Payoff. D) Optimal. Show Answer Correct Answer: A) Information. 6. Players expect a level of ..... as they replay a game more than once A) Tediousness. B) Frustration. C) Consistancy. D) Boredom. Show Answer Correct Answer: C) Consistancy. 7. Select a core components of video games. A) Actions. B) Color. C) Gender. D) Controller. Show Answer Correct Answer: A) Actions. 8. If a game has a saddle point, each player should play the same way every time. A) True. B) False. Show Answer Correct Answer: A) True. 9. A two-person zero-sum game means that the sum of losses to one player is equal to the sum of gains to other A) Yes. B) No. Show Answer Correct Answer: A) Yes. 10. Relative to the Nash equilibrium outcome in the prisoners' dilemma game, the opportunity to successfully cooperate would A) Lead both players to change their strategies. B) Lead one player to change their strategy, but not the other. C) Lead to a better payoff for one player, but not the other. D) Lead both players to remain in equilibrium. E) Have no effect on the payoffs received by the two players. Show Answer Correct Answer: A) Lead both players to change their strategies. 11. Would toy companies be in the oligopoly industries A) Yes. B) No. Show Answer Correct Answer: B) No. 12. Game theory is concerned with A) Predicting the results of bets placed on games like roulette. B) The choice of an optimal strategy in conflict situations. C) Utility maximization by firms in perfectly competitive markets. D) The migration patterns of caribou in Alaska. Show Answer Correct Answer: B) The choice of an optimal strategy in conflict situations. 13. Game theory reveals that A) Each player looks after what is best for the industry. B) Firms in an oligopoly are not interdependent. C) Firms in an oligopoly choose their actions without regard for what other firms might do. D) The equilibrium might not be the best solution for the parties involved. E) If all firms in an oligopoly take the action that maximizes their profit, then the equilibrium will have the largest combined profit of all the firms. Show Answer Correct Answer: D) The equilibrium might not be the best solution for the parties involved. 14. A bag contains some red-colored and some blue-colored marbles. First a red-colored marble is drawn and then, without replacing the first marble, a blue-colored marble is drawn. Are the two events dependent or independent? A) Independent. B) Dependent. Show Answer Correct Answer: B) Dependent. 15. Where would the equilibrium of this game be? A) 1, 4. B) 6, 5. C) 4, 2. D) 3, 3. Show Answer Correct Answer: B) 6, 5. 16. In game theory, a situation in which one firm can gain only what another firm loses is called a: A) Nonzero-sum game. B) Prisoners' dilemma. C) Zero-sum game. D) Predation game. Show Answer Correct Answer: C) Zero-sum game. 17. What type of game makes you and your opponent make the same move A) Cooperative. B) Symmetrical. C) Discrete. D) Continuous. Show Answer Correct Answer: B) Symmetrical. 18. True or False:Game theory is used by computer scientists, mathematicians and economists to try and see how rational humans would behave in certain scenarios. A) True. B) False. Show Answer Correct Answer: A) True. 19. A model designed to determine the design of a building project is called..... A) Prototype. B) Robot. C) Model. D) Simulation. Show Answer Correct Answer: C) Model. 20. What did the research team find after collecting and analyzing the results? A) The human players produced different results than the model player. B) The human players produced the same pattern of results as the model player. C) The simulated opponents were more skilled than the human players. D) The computer simulation was not accurate in predicting human behavior. Show Answer Correct Answer: B) The human players produced the same pattern of results as the model player. ← PreviousNext →Related QuizzesMicroeconomics QuizzesEconomics QuizzesGame Theory Quiz 1Game Theory Quiz 3Game Theory Quiz 4Game Theory Quiz 5Game Theory Quiz 6Game Theory Quiz 7Game Theory Quiz 8Game Theory Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books