What are the two crucial assumptions in game theory?
Understanding Strategic Interactions between Economic Agents

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Business
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11th Grade - University
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Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All players are irrational and have limited information.
All players are altruistic and have perfect foresight.
Players aim to maximize their objectives and have common knowledge.
Players are cooperative and have private information.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the context of oligopolies, what is a key characteristic that affects firm decisions?
Complete independence between firms.
High level of interdependency between firms.
Lack of competition.
Government regulation.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the dominant strategy for firms in a price war?
Set high prices.
Collude with competitors.
Set low prices.
Exit the market.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the Nash equilibrium in the context of a price war?
One firm sets a high price, the other sets a low price.
Firms exit the market.
Both firms set high prices.
Both firms set low prices.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can firms achieve higher profitability in an oligopoly market?
By increasing production costs.
By colluding to set higher prices.
By engaging in a price war.
By reducing product quality.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What triggers a bank run according to game theory?
Depositors' anticipation of a bank collapse.
Depositors' confidence in the bank.
Government intervention.
High interest rates offered by the bank.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a bank run scenario, what is the optimal strategy for a depositor if another depositor runs?
Ignore the situation.
Stay and earn interest.
Run and recover some money.
Invest more money.
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