A Game Has Two Players

question 23

Multiple Choice

A game has two players.Each player has two possible strategies.One strategy is Cooperate, the other is Defect.Each player writes on a piece of paper either a C for cooperate or a D for defect.If both players write C, they each get a payoff of $100.If both players write D, they each get a payoff of 0.If one player writes C and the other player writes D, the cooperating player gets a payoff of S and the defecting player gets a payoff of T.To defect will be a dominant strategy for both players if

• A)S + T > 100.
• B)T > 2S.
• C)S < 0 and T >100.
• D)S < T and T > 100.
• E)S and T are any positive numbers.

Understand the legal capacity required for binding contracts and the special considerations for contracts involving minors.

Recognize circumstances under which parents are responsible for their children's contracts or actions.

Know the conditions under which contracts can be void due to incapacity, insanity, or being under the influence of substances.

Distinguish between void and voidable contracts.

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Definitions:

Danish Empire

Historical period marked by the expansion and influence of Denmark, especially during the time of its colonial holdings and maritime dominance.

Palace Chapel

A chapel located within a palace, serving as a place of worship primarily for the royal court.

Aachen

A city in western Germany known for its historical significance as the residence of Charlemagne and the site of his Palatine Chapel, a masterpiece of Carolingian architecture.

Old Saint Peter's

A basilica that once stood on the spot where the Basilica of Saint Peter in Vatican City is located today, originally constructed during the 4th century.