Game Theory and Story Time Quiz

What is the primary purpose of understanding the game theory chart?

• To predict future market trends

• To calculate the total profit of both firms

• To determine the market share of each firm

• To identify the dominant strategy for each firm

If Firm 1 always prices high, what does this indicate about its strategy?

• It has a dominant strategy

• It is maximizing short-term profits

• It is avoiding competition

• It is following Firm 2's lead

Why does Firm 2 not have a dominant strategy?

• It follows Firm 1's pricing

• It always prices low

• It always prices high

• It sometimes prices high and sometimes low

What is the significance of the story time in the video?

• To provide a real-life application of game theory

• To offer a break from the theoretical content

• To introduce a new concept in economics

• To summarize the previous section

What was the narrator's initial reaction upon finding the puppies?

• He ignored them

• He called for help

• He decided to rescue them

• He decided to leave them

How did the narrator manage to transport the puppies across the border?

• By using a special permit

• By carrying them openly

• By leaving them with a friend

• By hiding them in the trunk

What was the narrator's concern while crossing the border?

• The puppies might escape

• The puppies might bark

• The car might break down

• The border patrol might search the car

What happened to the puppies after they crossed the border?

• They were taken to a pet rescue

• They were given to friends

• They were sold

• They were left in a park

What time of year did the story take place?

• During summer

• Around Thanksgiving

• In the spring

• At Christmas

What is the narrator's final message regarding the puppies?

• Contact him if you adopted one

• Return the puppies to him

• Keep the puppies a secret

• Adopt more puppies