Let $$\begin{array} { l } U = \{ 1,2,3,4,5,6,7 \} \\A = \{ 4,5,6,7 \} \\B = \{ 2,3,5,7 \} \\C = \{ 4,6,7 \}\end{array}$$

question 13

Multiple Choice

Let $$\begin{array} { l } U = \{ 1,2,3,4,5,6,7 \} \\A = \{ 4,5,6,7 \} \\B = \{ 2,3,5,7 \} \\C = \{ 4,6,7 \}\end{array}$$ List all the members of the set. $\bar { A }$

• A) \(\{ 1,2,3,4,5,6,7 \}\)
• B) \(\{ 4,5,6,7 \}\)
• C) \(\{ 1,2,3 \}\)
• D) \(\{ 1,4,6 \}\)
• E) \(\varnothing\)

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Definitions:

Dominant Strategy

A unilateral optimal strategy for a player in a game theory scenario, regardless of opponents' actions.

Nash Equilibrium

A concept in game theory where no player can gain by changing their strategy while the other players keep theirs unchanged.

Maximin Strategy

A strategy used in decision-making that maximizes the minimum gain that can be achieved, often used in situations involving uncertainty and risk.

Incumbent Monopoly

A situation where a single company dominates a market or industry, often due to having established a strong presence over time.