MCQ Bank
In a game theory, the outcome and consequence of each strategy is known as:
- A) Player
- B) Variable
- C) Payoff
- D) Loss
With reference to game theory, In which of the following games, players decide about their strategy choices in a sequence?
- A) Simultaneous games
- B) Non-repeated games
- C) Sequential games
- D) Repeated games
From given isoprofit function: QY\, = \,\Pi /b\, - \,a/b\,QX slope of this function will be:
- A) b
- B) -b/a
- C) -a/b
- D) a
The concept of the prisoners' dilemma can be used to analyze:
- A) Monopoly power in monopoly markets
- B) Only non price competition in oligopolistic markets
- C) Both price and non price competition in oligopoly markets
- D) Only price competition in oligopolistic markets
Market structure which is dominated by few strategically interdependent firms is known as:
- A) Monopoly
- B) Oligopoly
- C) Perfect competition
- D) Monopolistic competition
In Game theory approach, Game which is played again and again without any boundary or limit is known as:
- A) Non-repeated game
- B) Sequential game
- C) Infinitely repeated game
- D) Finitely repeated game
In Game theory approach, Game which is played repeatedly over a period of time is known as:
- A) Non-repeated game
- B) Repeated game
- C) Sequential game
- D) Simultaneous game
If oligopoly firm is producing homogenous product, it is known as:
- A) Differentiated oligopoly
- B) Pure oligopoly
- C) Monopoly
- D) Triopoly
Which of the following is /are types of games in game theory?
- A) Zero - sum game
- B) All of the given options
- C) Positive - sum game
- D) Negative - sum game