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ECC1000 - Principles of microeconomics - S2 2025

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What is an example of something that would give Player 2 more structural power?

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How does Partner 1's bargaining power change between the version where he moves first and the version where he moves second?

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Who would you rather be in this sequential game?

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How does Partner 1's structural power change between the version where he moves first and the version where he moves second?

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The table below shows the payoff matrix of a simultaneous one-shot game where larger numbers represent better payoffs.. The strategies of player 1 are denoted by s1 and s2 , and those of player 2 by t1 and t2. The first number (before the semicolon) denotes the result for player 1, and the second number (after the semicolon) refers to the result for player 2. Read the following statements and select the correct one(s).

Image failed to load: The payoff matrix of a simultaneous one-shot game where larger numbers represent better payoffs.

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Ali and Bilal are two neighboring farmers. Ali must decide whether to grow rice or cotton in this Kharif season, whereas Bilal must decide between rice, cotton, and maize. Their payoff matrix is given below. Based on the given information, read the following statements and select the correct one(s).

Image failed to load: The payoff matrix for Ali and Bilal, based on their relative choices of crop to grow

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Fill in the blanks: an allocation pareto-dominates another allocation if at least one player is made off and no players are made _______ off. Answer the question by typing the two answers with a semicolon and space between them, i.e. "FirstAnswer; SecondAnswer"

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The payoff matrix in a prisoner’s dilemma game is shown. Each player can choose Chemical fertiliser (C) or Organic manure (O). What outcome(s) pareto-dominate (C,C)? Type the answer as (S,S) where S equals C for Chemical fertiliser or O for Organic manure. Put no spaces in the answer. If no outcomes pareto-dominate (C,C), type NA. 

Image failed to load: The payoff matrix in a prisoner's dilemma game

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The South Korean government subsidizes 5nm production by 31 million USD. How many Nash equilibria are in this new game? Your answer should only be a number - do not include any additional words.

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How many Nash equilibria are in this game? Your answer should only be a number - do not include any additional words.

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