Syahmi and Kevin are roommates. Each of them prefers a clean room to a dirty room, but neither likes to clean the room. If both clean the room, they each get a payoff of 5. If one cleans and the other doesn’t clean the room, the person who does the cleaning has a utility of 0, and the person who doesn’t clean the room has a utility of 8. If neither cleans the room, the room stays a mess, and each has a utility of 1. a) Draw the extensive form and normal form representations of this game. What is
the dominant strategy solution for this game? What is the Nash equilibrium?
b) Is it correct to say that every Nash equilibrium must necessarily also be a dominant
strategy?

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

Which of the following tasks would be a line cook's main responsibility? oa. frying french fries ob. chopping onions oc. taking inventory of stocked dry goods od. paying invoices

Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.