This quiz works best with JavaScript enabled. Home > Economics > Microeconomics > Game Theory > Game Theory – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Game Theory Quiz 9 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The set of strategies that survive iterated dominance: A) Best response. B) Pure strategy. C) Rationalizable strategies. D) Perfect information. Show Answer Correct Answer: C) Rationalizable strategies. 2. Three of spades, nine of diamonds, six of spades, queen of diamonds, ace of diamonds A) Straight. B) Flush. C) Full house. D) High card. Show Answer Correct Answer: D) High card. 3. What did Bandura's experiment with young children and a clown doll demonstrate? A) Learning is a stimulus-response effect. B) Learning is largely a modeling experience. C) Learning is influenced by both genes and upbringing. D) Learning is a complicated interplay of factors. Show Answer Correct Answer: B) Learning is largely a modeling experience. 4. The position in the pay off matrix where the maximin coincides with the minimax A) Saddle point. B) Pivot point. C) Key point. D) None of above. Show Answer Correct Answer: A) Saddle point. 5. What is the goal of Robert West's research study? A) To develop a mathematical method for playing games. B) To explain how people learn and adapt to their opponents in games. C) To create a computer simulation of a person playing Paper, Rock, Scissors. D) To test the theory of game theory. Show Answer Correct Answer: B) To explain how people learn and adapt to their opponents in games. 6. What is the type of game where you have to work with others to win? A) Zero-sum game. B) Randomness game. C) Discrete game. D) Cooperative game. Show Answer Correct Answer: D) Cooperative game. 7. Even if people or companies rationally follow their own self-interest the best outcome is hard to reach when they can't or don't cooperate. This is known as? A) Game Theory. B) Absolute Advantage. C) Comparative Advantage. D) Free Rider Problem. Show Answer Correct Answer: A) Game Theory. 8. A key difference between monopoly and oligopoly is that: A) There is deadweight loss in a monopoly, but not in an oligopoly. B) There is one firm in a monopoly, but at least 2 in an oligopoly. C) There is profit maximization in a monopoly, but not in an oligopoly. D) There is collusion in a monopoly, but not an oligopoly. Show Answer Correct Answer: B) There is one firm in a monopoly, but at least 2 in an oligopoly. 9. What is a cooperative game? A) A game where players can communicate and make binding agreements. 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 where players can communicate and make binding agreements. 10. In 1994-John Nash won the Nobel Prize for his work in ..... using game theory A) Medicine. B) Aeronautics. C) Economics. D) Physics. Show Answer Correct Answer: C) Economics. 11. Player Centric Design refers to ..... A) Player Strategy. B) Player Review. C) Player Experience. D) Player Feedback. Show Answer Correct Answer: C) Player Experience. 12. Oligopolies are characterized by? A) 1 firm. B) 100s of firms. C) 20-30 firms. D) 2-3 firms. Show Answer Correct Answer: D) 2-3 firms. 13. Because both prefer Steal, we can predict the final decisions will be A) Split-Split. B) Split-Steal. C) Steal-Split. D) Steal-Steal. Show Answer Correct Answer: D) Steal-Steal. 14. In a zero-sum game, A) What one player wins, the other loses. B) The sum of each player's winnings if the game is played many times must bezero. C) The game is fair-each person has an equal chance of winning. D) Long-run profits must be zero. Show Answer Correct Answer: A) What one player wins, the other loses. 15. Which of the following circumstances will result in a Nash equilibrium? A) All players have a dominated strategy and each player chooses its dominated strategy. B) All players have a dominated strategy, but only some choose to follow it. C) All players have a dominated strategy, and none choose it. D) None of the above is correct. Show Answer Correct Answer: D) None of the above is correct. 16. Game theory can be a very complex and abstract concept dealing with ..... A) Math and statistics. B) Chemistry and science. C) Politics and polling data. D) Art and humanities. Show Answer Correct Answer: A) Math and statistics. 17. 3 sevens and 2 spades that are different numbers A) 3 of a kind. B) Full house. C) Flush. D) 2 pair. Show Answer Correct Answer: A) 3 of a kind. 18. If the three largest widget producers control 85 percent of the total widget market, then these producers are operating in A) An oligopoly. B) Monopolistic Competition. C) Perfect Competition. D) A monopoly. E) A cartel. Show Answer Correct Answer: A) An oligopoly. 19. Which of the following is necessarily true if both players have a dominant strategy in a game? A) There are multiple Nash equilibria in the game. B) At least one player has a weakly dominant strategy. C) The players will follow a cooperative strategy. D) The players will not cooperate. E) There is a dominant strategy equilibrium that is also a Nash equilibrium. Show Answer Correct Answer: E) There is a dominant strategy equilibrium that is also a Nash equilibrium. 20. ..... games only allow one player to take actions at a time A) Zero-sum. B) Turn based. C) Simultaneous. D) Asymmetric. Show Answer Correct Answer: B) Turn based. ← 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