Joe Is the Owner of the 7-11 Mini Mart,Sam Is

question 34

Multiple Choice

Joe is the owner of the 7-11 Mini Mart,Sam is the owner of the SuperAmerica Mini Mart and together they are the only gas stations in town.At the current price of $3 per gallon,both receive total revenues of $1,000.Joe is considering cutting his price to $2.90,which would increase his total revenue to $1,350 if Sam continues to charge $3.If Sam's price remains $3 after Joe cuts his price,Sam will collect $500 in revenues.If Sam cuts his price to $2.90,his total revenues would also rise to $1,350 if Joe continues to charge $3.Joe will collect $500 in revenues if he keeps his price at $3 while Sam lowers his to $2.90.Joe and Sam will receive $900 each in total revenue if they both lower their price to $2.90.You may find it easier to answer the following question if you fill in the payoff matrix below. $\begin{array}{c}\quad \quad \quad \quad \quad \quad \quad \text { Joe }\\\text { Sam }\begin{array}{|c|c|c|} \hline& \begin{array}{c}\text { Cut } \\\text { Price }\end{array} & \begin{array}{c}\text { Keep Old } \\\text { Price }\end{array} \\\hline \text { Cut } & & \\\text { Price } & & \\\hline \begin{array}{c}\text { Keep Old } \\\text { Price }\end{array} & & \\\hline\end{array}\end{array}$
Refer to the information given above.In this situation the Nash Equilibrium yields a:

• A)lower payoff than each would receive if each played his dominant strategy.
• B)higher payoff than each would receive if each played his dominant strategy.
• C)lower payoff than each would receive if each played his dominated strategy.
• D)the same payoff that each would receive if each played his dominated strategy.

Explain the role of empathy, genuineness, and unconditional positive regard in therapeutic settings.

Discuss the consequences of acquired conditions of worth on self-perception.

Describe contemporary cognitive therapy techniques and their emphasis in therapy.

Understand the philosophical foundations of existential therapy and the role of personal responsibility in psychological well-being.

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Definitions:

Psychological Disorders

Mental health conditions characterized by patterns of thought, feeling, or behavior that are disruptive, distressing, or atypical.

Modern Research Approaches

Contemporary methods and strategies used in the investigation and study of various phenomena, emphasizing recent techniques and tools.

ADHD

Attention-Deficit/Hyperactivity Disorder, a neurodevelopmental disorder characterized by inattention, hyperactivity, and impulsivity.

Diagnosed Ages

The specific ages or time periods in an individual's life when they are officially identified with a particular condition or illness by a healthcare professional.