3. Two players, Amy and Beth, play the following game called "race to 50". Amy goes first, and the two players take turns choosing a number between 1 and 7. On each turn, they add a number to a running today. The player whose move brings the total to 50 wins the game. a. If both players play optimally, who will win the game? Does this game have a first-mover advantage? Explain your reasoning. b. What are the optimal strategies (complete plans of action) for each player?

3. Two players, Amy and Beth, play the following game called "race to 50". Amy goes first, and the two players take turns choosing a number between 1 and 7. On each turn, they add a number to a running today. The player whose move brings the total to 50 wins the game. a. If both players play optimally, who will win the game? Does this game have a first-mover advantage? Explain your reasoning. b. What are the optimal strategies (complete plans of action) for each player?

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 6PA

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