What is a positive$-$sum game?

Question $2$ options:

a$)$

A game where all players lose.

b$)$

A game where the total gains are positive and all players benefit.

c$)$

A game where the total gains are zero.

Question $3(2$ points$)$

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Which of the following is an example of a sequential game?

Question $3$ options:

a$)$

Rock$-$paper$-$scissors.

b$)$

Chess.

c$)$

Lottery draw.

Question $4(2$ points$)$

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What is interindustry competition?

Question $4$ options:

a$)$

Competition within the same industry.

b$)$

Competition between firms in different industries.

c$)$

Lack of competition in the market.

Question $5(2$ points$)$

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Which of the following best illustrates a first$-$mover advantage?

Question $5$ options:

a$)$

A company entering a new market first and establishing strong brand recognition.

b$)$

A company entering a market last.

c$)$

A company that follows the leader in the market.

Question $6(2$ points$)$

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Which of the following best describes a Nash equilibrium?

Question $6$ options:

a$)$

All players have no incentive to change their strategies.

b$)$

Players continuously change strategies.

c$)$

One player dominates the game.

Question $7(2$ points$)$

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Which of the following is an example of a dominant strategy?

Question $7$ options:

a$)$

Cooperating in a prisoner's dilemma.

b$)$

Betraying in a prisoner's dilemma.

c$)$

Randomly choosing actions.

Question $8(2$ points$)$

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Which of the following is a common result of collusion in an oligopoly?

Question $8$ options:

a$)$

Lower prices for consumers.

b$)$

Higher prices and restricted output.

c$)$

Increased market competition.

Question $9(2$ points$)$

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What is a dominant strategy in game theory?

Question $9$ options:

a$)$

A strategy that is employed regardless of the opponent's actions.

b$)$

A strategy that relies on the opponent's moves.

c$)$

A strategy that changes frequently.

Question $10(2$ points$)$

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What is Nash equilibrium in game theory?

Question $10$ options:

a$)$

A situation where all players cooperate.

b$)$

A situation where neither player will want to deviate from a chosen strategy.

c$)$

A situation with no equilibrium.