Question: 1. ( 5 points ) Can the game theory approach described in chapter 10 be used to analyze the model of Perfect Competition? Please explain.

1. (5 points) Can the game theory approach described in chapter

1. (5 points) Can the game theory approach described in chapter 10 be used to analyze the model of Perfect Competition? Please explain.

2. (5 points) Use the following payoff matrix for a simultaneous move one shot game to answer the following questions

one shot game to answer the following questions 2. (5 points) Use

2. (5 points) Use the following payoff matrix for a simultaneous move one shot game to answer the following questions Player 2 Strategy C D E F Player 1 A 6. 14 7 11 18. 20 10. 19 B 12. 5 15, 1 17 25 16. 17(c) Does this game have a Nash equilibrium? Please explain. 3. (5 points) Use the following matrix to answer the following questions. Player 2 Strategy C D Player 1 A -10. -10 200. -100 B -100, 220 140. 180

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