Consider the following game below. Which of the following is true? Group of answer choicesThere is a unique Nash Equilibrium which is efficient.There are two Nash equilibria, both of which are efficient.There are two Nash equilibria, only one of which is efficient.There are two Nash equilibria, none of which are efficient.None of the above.

In a co-ordination style game:Group of answer choicesThere are multiple Nash equillibriaNone of the other answers are correct.The outcome of the game will be the Nash equillibrium with the highest payoff for both parties.There is a unique Nash equillibrium

Consider a game in which Myer and DJs simultaneously choose whether to advertise (ADV) or not advertise (NOT). If both firms adopt NOT, the payoffs are (6, 10) to Myer and DJs, respectively. If both firms choose ADV, the payoffs are (5, 6). If Myer plays ADV and DJs NOT, the payoffs are (8, 5). Finally, if Myer plays NOT and DJs ADV the payoffs are (4, 12). Which statement is true?Group of answer choicesThe Nash equilibrium is (NOT, NOT); this game is a prisoners’ dilemma.The Nash equilibrium is (ADV, NOT); this game is a prisoners’ dilemma.The Nash equilibrium is (ADV, ADV); this game is a prisoners’ dilemma.The Nash equilibrium is (NOT, ADV); this game is a prisoners’ dilemma.The Nash equilibrium is (ADV, ADV); this game is not a prisoners’ dilemma.

Consider a game represented by the following table. Which of the following statements is true? 1 pointThere is no Nash equilibrium. 
 In a Nash equilibrium, both players choose A. In a Nash equilibrium, both players choose B. In a Nash equilibrium, both players choose C. 4.Question 4Concerning the above question 3, which of the following statements is correct? 1 pointThis game is similar to the prisoner’s dilemma in that it has a better outcome than Nash equilibrium for all players.

Consider the game below with a worker (W) and a firm (F). The worker initially can choose to acquire skills or not acquire skills. If the worker does acquire skills, the firm then gets to decide whether to compensate the worker or not. The extensive form of the game and the payoffs are below. Which of the following is true?  Group of answer choicesThis game has a single Nash equilibrium.There are two Nash equilibria.There is no Nash equilibrium.Both players have a strictly dominant strategy.None of the above.

If each player in a game has a strictly dominant strategy, then:Group of answer choicesthe Nash equilibrium is welfare-maximising.each player achieves a maximum payoff in equilibrium.the game has no equilibrium.there cannot be multiple equilibria.the game can only played once.