The Old Michigan Football Coach Had Only Two Strategies, Run

question 19

Multiple Choice

The old Michigan football coach had only two strategies, Run the Ball to the Left Side of the line, and Run the Ball to the Right Side.The defense can concentrate either on the left side or the right side of Michigan's line.If the opponent concentrates on the wrong side, Michigan is sure to gain at least 5 yards.If the defense defended the left side and Michigan ran left, Michigan would be stopped for no gain.But if the opponent defended the right side when Michigan ran right, Michigan would still gain at least 5 yards with probability .60.It is the last play of the game and Michigan needs to gain 5 yards to win.Both sides choose Nash equilibrium strategies.In Nash equilibrium, Michigan would

• A)run to the right side with probability .71.
• B)run to the right side with probability .83.
• C)be sure to run to the right side.
• D)run to the two sides with equal probability.
• E)run to the right side with probability .60.

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Definitions:

Equilibrium Market Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Piano Lessons

Instruction sessions focused on teaching students how to play the piano, typically involving both theoretical and practical components.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, usually measured as the area above the supply curve and below the market price.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service versus how much they actually receive, showcasing profit.