Business, 18.03.2021 01:20 georgehall9795

Three friends are voting on a holiday destination. Each player chooses a destination to vote for, and the winner is the destination with the most votes. If all three are tied, then one destination is randomly selected from the three, where each has a third probability of winning. The players of the game are F1, F2 and F3, and fortunately for us, they all obey the von- Neumann-Morgenstern axioms. All three rank a lottery which gives them their worst outcome with 20 percent chance and their best outcome with 80 percent chance as equivalent to getting their second-best outcome with certainty. The ordinal preferences of the holiday destinations Argentina, Bolivia and Columbia (A, B and C) are given by: F1: A > B> C
F2: B_2C2 A
F3: C-3A3 B.
(a) Write this game out as a strategic game where the maximum payoff for every player is 100, and the minimum payoff is 0. (Hint, you should have three tables where every cell contains three numbers be- tween 0 and 100. Also, the value of a draw is uniquely defined here, as it's a lottery over three values.)
(b) For each player, list their weakly dominated strategies.
(c) List the six pure-strategy Nash equilibria (Hint: Use p, q and r as the probability of playing their favorite destination, and use the indifference probability to find an equilibrium where p=q=r.)

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 21:00

The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 15,800 indirect labor 138,000 property taxes, factory 8,800 utilities, factory 78,000 depreciation, factory 150,600 insurance, factory 10,800 total actual manufacturing overhead costs incurred $ 402,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 408,000 direct labor cost $ 68,000 inventories: raw materials, beginning $ 20,800 raw materials, ending $ 30,800 work in process, beginning $ 40,800 work in process, ending $ 70,800 the company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. a total of 20,500 machine-hours were used during the year. required: 1. compute the amount of underapplied or overapplied overhead cost for the year. 2. prepare a schedule of cost of goods manufactured for the year.

Answers: 3

Answer

Business, 22.06.2019 00:30

Salty sensations snacks company manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. the company has budgeted the following costs for the upcoming period: 1 factory depreciation $33,782.00 2 indirect labor 84,456.00 3 factory electricity 8,446.00 4 indirect materials 40,356.00 5 selling expenses 26,900.00 6 administrative expenses 17,200.00 7 total costs $211,140.00 factory overhead is allocated to the three products on the basis of processing hours. the products had the following production budget and processing hours per case: budgeted volume (cases) processing hours per case tortilla chips 3,600 0.25 potato chips 5,300 0.11 pretzels 2,300 0.49 total 11,200 required: a. determine the single plantwide factory overhead rate.* b. use the factory overhead rate in (a) to determine the amount of total and per-case factory overhead allocated to each of the three products under generally accepted accounting principles. refer to the amount descriptions list provided for the exact wording of the answer choices for text entries.* * if required, round your answers to the nearest cen

Answers: 1

Answer

Business, 22.06.2019 04:30

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.

Answers: 1

Answer

Business, 22.06.2019 05:00

Xie company identified the following activities, costs, and activity drivers for 2017. the company manufactures two types of go-karts: deluxe and basic. activity expected costs expected activity handling materials $ 625,000 100,000 parts inspecting product 900,000 1,500 batches processing purchase orders 105,000 700 orders paying suppliers 175,000 500 invoices insuring the factory 300,000 40,000 square feet designing packaging 75,000 2 models required: 1. compute a single plantwide overhead rate, assuming that the company assigns overhead based on 125,000 budgeted direct labor hours. 2. in january 2017, the deluxe model required 2,500 direct labor hours and the basic model required 6,000 direct labor hours. assign overhead costs to each model using the single plantwide overhead rate.

Answers: 3

Answer

You know the right answer?

Three friends are voting on a holiday destination. Each player chooses a destination to vote for, an...

Questions