MCQ Game theory - ds mcq PDF

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Game models are classified by the a. size of the payoff b. sum of all payoffs c. nature of strategies employed. d. all of the above e. none of the above Each player should follow the same strategy regardless of the other player's strategy in which of the following games?a. Constant strategy b. Mixed...

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1. Game models are classified by the a. size of the payoff b. sum of all payoffs c. nature of strategies employed. d. all of the above e. none of the above 2. Each player should follow the same strategy regardless of the other player's strategy in which of the following games? a. Constant strategy b. Mixed strategy c. Pure strategy d. Dominance Strategy e. Not enough information given 3. Consider the following two-person game, and determine the saddle point if it exists.

a. X2Y2 b. X1Y2 c. X1Y1 d. X1Y2 e. There is no saddle point 4. The saddle point in a payoff matrix is always the __________. a. largest number in the matrix b. smallest number in its column and the smallest number in its row c. smallest number in the matrix d. largest number in its column and the smallest number in its row e. none of the above 5. In a mixed strategy, each player should optimize the a. maximum payoffs. b. lower value of the game. c. minimum loss. d. maximum loss. e. expected gain. 6. Consider the following two-person game. What strategy will Y play?

a. b.

X1 X2

c. Y1 d. Y2 e. none of the above 7. Considering the following two-person game, what percentage of the time should Y play strategy Y1?

a. 1/3 b. 2/3 c. 4/9 d. 5/9 e. none of the above 8. Considering the following two-person game, the value of the game (if played many times) is

a. 19.00. b. 4.75 c. 11.00. d. unable to be computed as the e. none of the above

was not given.

9. Considering the following two-person game, what is Y’s best strategy?

a. X1 b. X2 c. Y1 d. Y2 e. none of the above 10. Given the following two-person game, which strategy can be eliminated by use of dominance?

a. X1 b. X2 c. X3 d. Y1 e. none of the above 11. A common assumption about the players in a game is that a. neither player knows the payoff matrix. b. the players have different information about the payoff matrix. c. only one of the players pursues a rational strategy. d. the specific identity of the players is irrelevant to the play of the game. 12. A dominant strategy occurs when: a. One player makes a decision for their own benefit based upon the action of the other players b. Both players coordinate their actions to produce the best possible outcome for both players c. A strategy that results in the highest payoff for one player regardless of the opponent’s action. d. One player makes their move dependent upon the best outcome for all players involved 13. In following matrix , What is the dominant strategy for Firm B? Firm A Firm B Strategy

AdvertiseDon’t Advertise

Advertises

$6, $6

Don’t Advertise $3, $20

$22, $3 $13, $13

a. Advertise b. Don’t Advertise c. Advertise if Firm A chooses to advertise d. Advertise if Firm A chooses to NOT advertise Answer: a – Firm B’s dominant strategy is to advertise and the dominant strategy is NOT based upon the decision of Firm A. Firm B maximizes personal benefit when advertising. 14. In the matrix above, choose the best answer. What is the dominant strategy for Firm A? a. Advertise b. Don’t Advertise c. Advertise if Firm B chooses to advertise d. Advertise if Firm B chooses to NOT advertise

Answer: a – This is the same as the question above. Firm A’s dominant strategy is to advertise and the dominant strategy is NOT based upon the decision of Firm B. Firm A maximizes personal benefit when advertising. 15. Game theory can be a. choosing between alternative strategies b. a competition c. a contest d. all of these 16. A payoff matrix will be known to a. Player A b. Player B c. Both Players d. Neither Player 17. Players will select possible strategies a certain proportion of the time a. in a pure-strategy game b. in a mixed-strategy game c. in both of these d. in neither of these 18. The size of the payoff matrix can be reduced using a. the rule of pure strategy b. the rule of mixed strategy c. X the principle of expected gains d. the principle of dominance 19. Given the following payoff, Find saddle point

The saddle point is a. 12 b. 18 c. 6 d. -8 e. does not exist 20. Given the following payoff, This is a

a. mixed-strategy game b. pure-strategy game

21. Given the following payoff,

The saddle point is a. 8 b. 15 c. 10 d. 7 e. does not exist 22. Given the following payoff,

This is a a. mixed-strategy game b. pure-strategy game...