Assignment 3;1. Some games of strategy are cooperative. One example is deciding which side of the road to;drive on. It doesnt matter which side it is as long as everyone chooses the same side. Otherwise;everyone may get hurt.;Driver 2;Driver 1;Left;Right;Left;0,0;-1000, -1000;Right;-1000 -1000;0,0;a. Does either player have a dominant strategy? Explain.;b. Is there Nash equilibrium in this game? Explain;c. Why this game is called a cooperative game?;2.;a. What is the firms Total Revenue?;b. What is the Total Cost?;c. What is the firms Total Profits?;d. If the above monopolist were to behave like a perfectly competitive firm (operating in the;2;long run), determine its output.
Paper#29560 | Written in 18-Jul-2015Price : $22