Business, 08.05.2021 01:00 arias333

Jack and Jill have gone out for cycling and they have come to a place where the road is obstructed by a fallen tree. They can move the tree if both of them try. If none of them tries, they have to turn back and reach home very late. However, if one of them tries while the other does not help, the one who tries will have a muscle sprain and will not be able to move the tree. The matrix below shows the utility each of them derives in each situation. The first number listed in each cell is the payoff to the row player and the second number listed is the payoff to the column player. Jill
Tries Does not try
Jill Tries 5 5
5 2
Does not try -2 -2
-5 -2
1. Refer to the scenario above. Jack will derive units of utility if both of them try to move the tree.
A. 5
B. −5
C. −2
D. 10
2. Refer to the scenario above. Jack will derive units of utility if Jill tries to move the tree while he does not try at all.
A. 5
B. −5
C. −2
D. 10
3. Refer to the scenario above. Jack and Jill will derive maximum utility if:
A. Neither of them tries to move the tree.
B. Jack tries to move the tree, while Jill does not.
C. Jill tries to move the tree, while Jack does not.
D. Both of them try to move the tree.
4. Refer to the scenario above. Which of the following is true in this case?
A. Jill is better off by not trying if Jack tries to move the tree.
B. Jack is better off by trying to move the tree if Jill does not try at all.
C. Jack is better off by trying to move the tree if Jill tries to move the tree.
D. Jill is better off by trying to move the tree if Jack does not try at all.
5. Refer to the scenario above. This game .
A. does not have a dominant strategy equilibrium
B. does not have a Nash equilibrium
C. has a unique Nash equilibrium
D. has a unique dominant strategy equilibrium

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