Finite Mathematics (11th Edition)
11th Edition
ISBN: 9780321979438
Author: Margaret L. Lial, Raymond N. Greenwell, Nathan P. Ritchey
Publisher: PEARSON
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Chapter 11.2, Problem 17E
To determine
The optimum strategy for players A B
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The inventor of a new game believes that the variable cost for producing the game is $0.95 per unit and the fixed cost are $4,700. The inventor sells each game for $1.99. Let c be the number of games produced
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Solve the equilibrium for this game.
The table below states the payoffs in profits (of millions of tenge each day) to two grocery supermarkets that are rivals in Almaty, Blue Foods and Ladymart. Each supermarket can take one of two courses: Low prices; or high prices. In each cell, the first payoff is for Blue Foods, and the second payoff is for Ladymart.
(a) Assume that neither store observes the pricing by the other store, and solve the game (if it can be solved). Explain your solution step-by-step. Does this outcome maximize total profits to the two stores?
(b) Now assume that each store can observe the pricing by the other store, and solve the game.
Blue Food, Ladymart
High prices
Low prices
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2, 2
0, 3
Low prices
3, 0
1,1
Chapter 11 Solutions
Finite Mathematics (11th Edition)
Ch. 11.1 - In the following game, decide on the payoff when...Ch. 11.1 - Prob. 2ECh. 11.1 - Prob. 3ECh. 11.1 - In the following game, decide on the payoff when...Ch. 11.1 - Prob. 5ECh. 11.1 - Prob. 6ECh. 11.1 - Prob. 7ECh. 11.1 - Does it have a saddle point?Ch. 11.1 - Prob. 9ECh. 11.1 - Prob. 10E
Ch. 11.1 - Prob. 11ECh. 11.1 - Prob. 12ECh. 11.1 - Prob. 13ECh. 11.1 - Prob. 14ECh. 11.1 - Prob. 15ECh. 11.1 - Prob. 16ECh. 11.1 - Prob. 17ECh. 11.1 - Prob. 18ECh. 11.1 - Prob. 19ECh. 11.1 - Prob. 20ECh. 11.1 - Prob. 21ECh. 11.1 - Prob. 22ECh. 11.1 - Prob. 23ECh. 11.1 - Prob. 24ECh. 11.1 - Prob. 25ECh. 11.1 - Prob. 26ECh. 11.1 - Prob. 27ECh. 11.1 - Prob. 28ECh. 11.1 - Prob. 29ECh. 11.1 - Prob. 30ECh. 11.1 - Prob. 31ECh. 11.1 - Prob. 32ECh. 11.1 - Prob. 33ECh. 11.1 - Prob. 34ECh. 11.1 - Prob. 35ECh. 11.1 - Prob. 36ECh. 11.1 - Prob. 37ECh. 11.1 - APPLY IT Football When a football team has the...Ch. 11.1 - Prob. 39ECh. 11.1 - Prob. 40ECh. 11.1 - Children's Game In the children's game rock,...Ch. 11.2 - Suppose a game has payoff matrix [ 3452 ]. Suppose...Ch. 11.2 - Suppose a game has payoff matrix [ 041324110 ]....Ch. 11.2 - Find the optimum strategies for player A and...Ch. 11.2 - Find the optimum strategies for player A and...Ch. 11.2 - Prob. 5ECh. 11.2 - Prob. 6ECh. 11.2 - Prob. 7ECh. 11.2 - Prob. 8ECh. 11.2 - Prob. 9ECh. 11.2 - Prob. 10ECh. 11.2 - Prob. 11ECh. 11.2 - Prob. 12ECh. 11.2 - Prob. 13ECh. 11.2 - Prob. 14ECh. 11.2 - Prob. 15ECh. 11.2 - Prob. 16ECh. 11.2 - Prob. 17ECh. 11.2 - Prob. 18ECh. 11.2 - Prob. 19ECh. 11.2 - Prob. 20ECh. 11.2 - Prob. 21ECh. 11.2 - Prob. 22ECh. 11.2 - Prob. 23ECh. 11.2 - Prob. 24ECh. 11.2 - Prob. 25ECh. 11.2 - Prob. 26ECh. 11.2 - Prob. 27ECh. 11.2 - Prob. 28ECh. 11.2 - A reader wrote to the "Ask Marilyn" column in...Ch. 11.2 - Prob. 30ECh. 11.2 - Prob. 31ECh. 11.2 - Prob. 32ECh. 11.2 - Prob. 33ECh. 11.2 - Choosing Medication The number of cases of African...Ch. 11.2 - Prob. 35ECh. 11.2 - Prob. 36ECh. 11.2 - 37. Golf In a simplified variation of the Ryder...Ch. 11.2 - Prob. 38ECh. 11.2 - Prob. 39ECh. 11.2 - Prob. 40ECh. 11.2 - Finger Game Repeal Exercise 40 if each player may...Ch. 11.3 - Use the graphical method to find the optimum...Ch. 11.3 - Prob. 2ECh. 11.3 - Use the graphical method to find the optimum...Ch. 11.3 - Prob. 4ECh. 11.3 - Prob. 5ECh. 11.3 - Prob. 6ECh. 11.3 - Prob. 7ECh. 11.3 - Prob. 8ECh. 11.3 - Prob. 9ECh. 11.3 - Use the simplex method to find the optimum...Ch. 11.3 - Prob. 11ECh. 11.3 - Prob. 12ECh. 11.3 - Prob. 13ECh. 11.3 - Prob. 14ECh. 11.3 - Prob. 15ECh. 11.3 - In Exercises 1327, use the graphical method when...Ch. 11.3 - Prob. 17ECh. 11.3 - Prob. 18ECh. 11.3 - Prob. 19ECh. 11.3 - Prob. 20ECh. 11.3 - Prob. 21ECh. 11.3 - Prob. 22ECh. 11.3 - Prob. 23ECh. 11.3 - In Exercises 1327, use the graphical method when...Ch. 11.3 - In Exercises 13–27, use the graphical method when...Ch. 11.3 - Prob. 26ECh. 11.3 - Prob. 27ECh. 11 - 1. Since they like to eat out, each prefers a...Ch. 11 - If Linda likes French food more than Mel likes...Ch. 11 - Prob. 3EACh. 11 - 4. Suppose Linda knows that Mel is going to stick...Ch. 11 - Prob. 5EACh. 11 - Prob. 6EACh. 11 - Prob. 1RECh. 11 - Prob. 2RECh. 11 - Prob. 3RECh. 11 - Prob. 4RECh. 11 - Prob. 5RECh. 11 - Prob. 6RECh. 11 - Prob. 7RECh. 11 - Prob. 8RECh. 11 - Prob. 9RECh. 11 - Prob. 10RECh. 11 - 11. How can you determine from the payoff matrix...Ch. 11 - Prob. 12RECh. 11 - Prob. 13RECh. 11 - Prob. 14RECh. 11 - Prob. 15RECh. 11 - Prob. 16RECh. 11 - Prob. 17RECh. 11 - Prob. 18RECh. 11 - Prob. 19RECh. 11 - Prob. 20RECh. 11 - Prob. 21RECh. 11 - Prob. 22RECh. 11 - Prob. 23RECh. 11 - Prob. 24RECh. 11 - Prob. 25RECh. 11 - For the following games, find the strategies...Ch. 11 - Prob. 27RECh. 11 - For the following games, find the strategies...Ch. 11 - Prob. 29RECh. 11 - Prob. 30RECh. 11 - Prob. 31RECh. 11 - Prob. 32RECh. 11 - Prob. 33RECh. 11 - Prob. 34RECh. 11 - Prob. 35RECh. 11 - For each game, remove any dominated strategies,...Ch. 11 - Prob. 37RECh. 11 - Prob. 38RECh. 11 - Prob. 39RECh. 11 - Prob. 40RECh. 11 - Prob. 41RECh. 11 - Prob. 42RECh. 11 - Prob. 43RECh. 11 - Prob. 44RECh. 11 - Prob. 45RECh. 11 - Prob. 46RECh. 11 - Labor Relations In labor-management relations,...Ch. 11 - Prob. 48RECh. 11 - Prob. 49RECh. 11 - Prob. 50RECh. 11 - Prob. 51RECh. 11 - Prob. 52RECh. 11 - Prob. 53RECh. 11 - Prob. 54RECh. 11 - Politics Mary Wilkinson, a candidate for city...Ch. 11 - Prob. 56RECh. 11 - Prob. 57RECh. 11 - Prob. 58RECh. 11 - Prob. 59RECh. 11 - Prob. 60RECh. 11 - Prob. 61RECh. 11 - Prob. 62RECh. 11 - Prob. 63RECh. 11 - Newcomb's Paradox Suppose there are two boxes, A...
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