Question: 1 Two 5-star hotels have been established at Hiorn Point of the Sundarbans in 2015, namely The Sundarbans and The Bengal Tiger. They have published a tariff according to which the room rent is: BDT 5000 per night. They started giving 50% discounts on the tariff from 2016 to attract travellers. Examine four scenarios of the duopoly market of 5-star hotels in Hiron Point over 4 years from 2016 to 2017: Scenario-2016 Scenario-2017 The Sundarbans offer discount (50%) The Sundarbans offer NO discount The Bengal Tiger offers discount The Bengal Tiger offers discount (50%) Scenario-2019 Scenario-2018 The Sundarbans offer discount The Sundarbans offer NO discount The Bengal Tiger offers NO discount The Bengal Tiger offers NO discount Data on number of room guests is captured in the following table: Year Number of Hotel guests per month The Sundarbans The Bengal Tiger 2016 5000 persons 6000 persons 2017 3000 persons 7000 persons 2018 2000 persons 5000 persons 2019 6000 persons 4000 persons Task: Your task is to develop a combined Pay-off Matrix (here, pay-off number of hotel guests per month)Dam; Suppose there are only two petroleum exporting countries in the World, namely, Russia and Venezuela. Their profits fluctuate with relative output. Examine the Pay-off Matrix given below. Each has two options to choose how: High output and Low output. Explain which country has a dominant strategy of deciding output. Explain your answer in detail. DUDPOLY DECISION MAKING PAY-OFF MATRIX OF TWO OIL-PRODUCING COUNTRIES [WEEKLY PROFITS IN USD BILLION] Two cigarette companies have two popular brands in the low-price category. They can advertise to boost sells. However, either can choose not to advertise. The following payoff matrix captures weekly prots for 4 alternative scenarios, with and without advertisement. Note that all gures indicate prots in EDT erore. action: 3 Pal-air Matrix for Two Ciggette Companies - mm Task: Your task is to analyse the pay-off matrix and suggest what strategy should the manufacturer of Star cigarettes choose. 91mm Write a short note on Prisoner's Dilemma. (Marks-8) Practice Task-Z Dglivggd on: 22 Augg 2021. Problem1 Year 2000. This is the story of two local farmers who have started to produce Strawberry in theirvillage home in Gazipur. They are Kalachan and Rajamian. Kalachan and Rajamian have suddenly started to produce strawberry and sold the hanrest to traders in Gulshan-Z at good price. They understood that if they cooperated and produced less strawberry, they could raise the price of strawberry. If they work independently, they will each earn EDT 1000 per day. If they decide to work together and both lower their output, they can each earn EDT 1500. If one farmer lowers output and the other does not, the farmer who lowers output will earn EDT 0 and the otherfarrner will capture the entire market and will earn EDT 2000 per day. The table below represents the choices available to two strawberry farmers Kalachan and Rajamian and their resulting payoffs (profits). Now, what is the best choice for Rajamian if he is sure that Kalachan will cooperate? Debut production of trawbgm in gazigur Payoff Matrix for different Pricing Options [Daily Prots in EDT] 9W what is the best choice for Rajamian if he is sure that Kalachan will cooperate? (i) If Rajamian is sure that Kalachan will cooperate, then he should cheat. (ii) If Rajamian is sure that Kalachan will cooperate, then he should cooperate in keeping output low. (m) If Rajamian is sure that Kalachan will cooperate, he should work independently Problem-2 The use of cooperation and cheating: For hotels number of guests is very important. No hotel wants to run with empty rooms. This is a case of two hotels in Heron Point ofthe Sundarbans. They are the Hotel Sundarbans and the Hotel Heron Point. They can cooperate for a discount on room rent and achieve high number of guests, 1000 each. Oppositely, they will have low number of guests, 500 each. Cooperate (for a discount) Non-cooperate (Cheat) Questions to answer: a. Analyse the payoffs and decide what is the dominant strategy for each of the hotels. [1. Suppose both of the hotels have followed respective dominant strategies in 2021. Will anyone indegndenty consider to adopt a different strategy in 2022? Explain your