Microeconomics notes

ECO 301 TEST BANK FOR CHAPTER 5 Game Theory 1. A football team has the chance of scoring the game-winning touchdown on the last play of the game. It can either run or pass. The defense can play for the run or play for the pass. The following normal form lists the payoffs from the game made up by this last play. The payoffs are probabilities of winning the game. 2. Consider the same football situation as in the previous question, but now suppose the p...

ECO 301 TEST BANK FOR CHAPTER 5 Game Theory 1. A football team has the chance of scoring the game-winning touchdown on the last play of the game. It can either run or pass. The defense can play for the run or play for the pass. The following normal form lists the payoffs from the game made up by this last play. The payoffs are probabilities of winning the game. 2. Consider the same football situation as in the previous question, but now suppose the p...