Education

11th

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Game Theory

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6 questions

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  • 1. Multiple Choice
    45 seconds
    1 pt

    What is an Oligopoly?

    Market structure where only two firms control all or most of the market for a product or service

    Market structure where two or more firms control most of the market and produce similar products or services

    A special type of market where a single producer controls the supply for a product or service

    Market structure where a large number of firms are in charge of selling or consuming similar products or services

  • 2. Multiple Choice
    45 seconds
    1 pt

    What's the best way to define Nash Equilibrium?

    A single player obtains the overall benefit

    Both players do not obtain any benefit

    Both players satisfy their desire outcomes

    Both players satisfy the same desired outcome

  • 3. Multiple Choice
    45 seconds
    1 pt

    How is a payoff matrix used?

    To show how the reward or profit of two firms depend on the actions of each other

    Shows the difference between two firms actions

    To show how the reward or profit of two or more firms depend on the actions of each other

    Shows the similarities between two firms actions

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