John and Jane Doe were married for 20. When they were first married, John, as beneficiary, bought a life insurance policy on Jane. Jane likewise bought a life insurance policy on John. After their youngest child went off to college, John and Jane got a divorce. Both were working professionals, so no spousal support was awarded in the divorce. Immediately after the divorce, John purchased a house in a beautiful neighborhood. He was a little worried that him and his neighbor were in a flood zone. Just to be cautious, John bought property insurance policies, with him as the beneficiary, for his house and his neighbor’s house.

After the divorce, Jane moved to California. Considering the number of wildfires in California, Jane bought fire insurance on her home.

One year later there was a flood and John and his neighbor suffered massive losses on their properties. What would happen when John tried to collect on both property insurance policies?

Two weeks after that, there was a wildfire near Jane's house. The wildfire caused a tree to fall, which broke a water line, that caused Jane’s house to flood. She suffered massive damage to her house. What would happen when Jane tried to collect on her fire insurance policy?

Four weeks later, John died of a heart attack. What would happen when Jane tried to collect the life insurance policy?

Suppose that fizzo and pop hop are the only two firms that sell orange soda. the following payoff matrix shows the profit (in millions of dollars) each company will earn depending on whether or not it advertises: pop hopadvertise doesn’t advertisefizzo advertise 10, 10 18, 2doesn’t advertise 2, 18 11, 11for example, the upper right cell shows that if fizzo advertises and pop hop doesn't advertise, fizzo will make a profit of $18 million, and pop hop will make a profit of $2 million. assume this is a simultaneous game and that fizzo and pop hop are both profit-maximizing firms. if fizzo decides to advertise, it will earn a profit if pop hop advertises and a profit if pop hop does not advertise. if fizzo decides not to advertise, it will earn a profit if pop hop advertises and a profit if pop hop does not advertise. if pop hop advertises, fizzo makes a higher profit if it chooses (not to advertise, to .if pop hop doesn't advertise, fizzo makes a higher profit if it chooses (not to advertise, to . suppose that both firms start off not advertising. if the firms act independently, what strategies will they end up choosing? fizzo will choose to advertise and pop hop will choose not to advertise. both firms will choose to advertise. fizzo will choose not to advertise and pop hop will choose to advertise. both firms will choose not to advertise. again, suppose that both firms start off not advertising. if the firms decide to collude, what strategies will they end up choosing? fizzo will choose not to advertise and pop hop will choose to advertise. both firms will choose not to advertise. fizzo will choose to advertise and pop hop will choose not to advertise. both firms will choose to advertise.