A dominant strategy is a strategy that depends on what the other side of the interaction chooses True O False 2 1 point It is still possible to find the equilibrium in an interaction (game) even if there are no dominant strategies for either player. True False 3 1 point Which of the following are possible ways to depict an interaction (check all that apply)? Interaction form Strategic form O Extensive form Matrix form 1 point If a player has a dominant strategy, this means that their payoff is unaffected by what the other side has chosen. True False 5 1 point Suppose Al and Bob are interacting in a simultaneous game, where both make their choices at the same time. Al Not increase Increase Not increase (3.4) (2.3] Bob Increase 14.3 (3.2) O The equilibrium in this interaction is for Bob to choose 'Not increase' and All to choose 'Increase" The equilibrium in this interaction is for Al to choose 'Not increase' and Bob to choose 'Increase The equilibrium in this interaction is for both to choose 'Not increase" The equilibrium in this interaction is for both to choose 'Increase' 1 point Suppose American Airlines and Delta Airlines make their decision simultaneously and are choosing whether to fly in the morning or evening, American Airlines Morning Evening Morning (15,15 (30,70 Delta Airlines Evening (70,30 (35,35) Neither Delta nor American have a dominant strategy Choosing 'Morning' is a dominant strategy for both Delta and American Choosing 'Morning' is a dominant strategy for Delta O Choosing 'Evening' is a dominant strategy for Delta 1 point Backward induction is useful for analyzing interactions that are sequential (one player acts before the other player). True False point Suppose American Airlines and Delta Airlines make their decision simultaneously and are choosing whether to fly in the morning or evening. American Airlines Morning Evening Morning (15,15 (30,70) Delta Airlines Evening (70,30) (35,35) O The equilibrium in this interaction is for Delta to choose "Morning" and American to choose 'Evening" The equilibrium in this interaction is for both Delta and American to choose 'Evening' The equilibrium in this interaction is for both Delta and American to choose 'Morning' The equilibrium in this interaction is for Delta to choose "Evening' and American to choose 'Morning' Submit