This quiz works best with JavaScript enabled. Home > Economics > Microeconomics > Game Theory > Game Theory – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Game Theory Quiz 7 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Game theory is..... A) Studies related to the theories used in a game are outlined in a model. B) Mathematical model that shows the relationship between fixed variables and the dependent variable. C) Study of rational behavioral interactions where there is interdependence between the strategies of each player. D) How to win a game in the most effective way possible and with minimal risk. Show Answer Correct Answer: C) Study of rational behavioral interactions where there is interdependence between the strategies of each player. 2. In Islam, the verse about leadership hierarchy which is the basic guide in the governance of a group of believers at both small and large levels is..... A) Cutting We Shall (4) Khas verses. B) QS Al-Mujadilah (58) verse 11. C) QS At-Taubah (9) verse 60. D) Story of the Night Journey (17) Verses 1. Show Answer Correct Answer: A) Cutting We Shall (4) Khas verses. 3. What method did Robert West use to communicate his research findings? A) Publishing a journal article. B) Presenting at academic conferences. C) Getting feedback from psychologists. D) Testing statistical probabilities. Show Answer Correct Answer: A) Publishing a journal article. 4. Who is the founder of psychoanalytic theory? A) Ivan Pavlov. B) B.F. Skinner. C) Albert Bandura. D) Sigmund Freud. Show Answer Correct Answer: D) Sigmund Freud. 5. By changing the parameters of the jail time served-we can alter the ..... of the Prisoner's decisions A) Attitude. B) Fairness. C) Predictabiltiy. D) Animosity. Show Answer Correct Answer: C) Predictabiltiy. 6. Which of the following is most associated with price leadership, collusion, and cartels? A) Monopoly. B) Monopolistic. C) Oligopoly. D) Perfect. Show Answer Correct Answer: C) Oligopoly. 7. What is a normal (strategic) form game? A) A game represented by a payoff matrix, where each row describes the strategy of one player. B) A game where players have completely opposed interests. C) A game of total conflict where the combined wealth of the players remains constant. D) A game with a finite number of options. Show Answer Correct Answer: A) A game represented by a payoff matrix, where each row describes the strategy of one player. 8. In game theory, a situation in which one player can gain only what another players loses is called a: A) Non zero-sum game. B) Prisoners' dilemma. C) Zero-sum game. D) None of above. Show Answer Correct Answer: C) Zero-sum game. 9. For which of the following type of utility does in NOT make sense to compute mixed strategy solutions? A) Ordinal utilities. B) Utilities where the ratio of differences is meaningful. C) Cardinal utilities. D) Utilities for a risk-averse player. Show Answer Correct Answer: A) Ordinal utilities. 10. John Von Newman created the field of game theory in academics as a study of ..... A) Math. B) Warfare. C) Economics. D) Video games. Show Answer Correct Answer: A) Math. 11. Mathematical models are used in game design to create ..... A) Combat mechanics. B) Genres. C) Marketing. D) Zero sum games. Show Answer Correct Answer: A) Combat mechanics. 12. What is Nash equilibrium? A) A result where no player can increase their payoff by changing their decision unilaterally. B) A result where players have no regrets about their decisions. C) A result where there are multiple equilibria in the game. D) A result where players have perfect information about each other's strategies. Show Answer Correct Answer: A) A result where no player can increase their payoff by changing their decision unilaterally. 13. What are some applications of game theory? A) Psychology, evolutionary biology, war, politics, economics, and business. B) Mathematics, psychology, war, politics, economics, and business. C) Economics, psychology, war, politics, biology, and business. D) Business, psychology, war, politics, economics, and biology. Show Answer Correct Answer: A) Psychology, evolutionary biology, war, politics, economics, and business. 14. Which of the following phenomena cannot be modeled using game theory models? A) Determining the price of a product. B) Financial reporting analysis. C) A country's embargo policy. D) Interrogation of prisoners. Show Answer Correct Answer: B) Financial reporting analysis. 15. The study of how decisions are made when strategic interaction between firms exists is known as A) Game theory. B) Contestable market theory. C) Market power theory. D) Predatory pricing theory. Show Answer Correct Answer: A) Game theory. 16. The kinked demand curve model assumes that your competition will A) Not consider your actions. B) Match your price increases but not match your price decreases. C) Engage in predatory behavior. D) Match your price decreases but not match your price increases. Show Answer Correct Answer: D) Match your price decreases but not match your price increases. 17. Games which involve more than two players are called N-person games A) Yes. B) No. Show Answer Correct Answer: A) Yes. 18. Simultaneous gameplay is one way in which to limit ..... one player has on another player's actions in a game A) Disadvantages. B) Dominance. C) Information. D) Advantages. Show Answer Correct Answer: C) Information. 19. The initial state and the legal moves for each side define the ..... for the game. A) Search Tree. B) Game Tree. C) State Space Search. D) Forest. Show Answer Correct Answer: B) Game Tree. 20. 6 of diamonds, 2 of clubs, king of diamonds, 2 of diamonds, king of hearts A) 1 pair. B) 2 pair. C) 3 of a kind. D) High card. Show Answer Correct Answer: B) 2 pair. ← 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 8Game Theory Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books