Big Pig and Little Pig Have Two Possible Strategies, Press

question 9

Multiple Choice

Big Pig and Little Pig have two possible strategies, Press the Button, and Wait at the Trough.If both pigs choose Wait at the Trough, both get 3.If both pigs choose Press the Button, then Big Pig gets 8 and Little Pig gets 2.If Little Pig presses the button and Big Pig waits at the trough, then Big Pig gets 10 and Little Pig gets 0.Finally, if Big Pig presses the button and Little Pig waits at the trough, then Big Pig gets 2 and Little Pig gets 1.In Nash equilibrium,

• A)Little Pig will get a payoff of 1 and Big Pig will get a payoff of 2.
• B)Little Pig will get a payoff of 2 and Big Pig will get a payoff of 8.
• C)both pigs will wait at the trough.
• D)Little pig will get a payoff of zero.
• E)the pigs must be using mixed strategies.

Explain the influence of biological factors (such as instincts, drives, and arousal) on motivation.

Discuss the role of environmental and psychological factors in shaping motivation.

Describe the relationship between motivation and behavior.

Identify the influence of motivation on personal decision-making and goal pursuit.

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Definitions:

Demand Factors

Factors that determine consumers’ willingness and ability to pay for products and services.

Global Economy

The interconnected world economy where goods, services, and labor are exchanged across international borders.

Spreadsheet Simulation

A technique involving the use of spreadsheet software to model and analyze complex systems or processes.

Target Return

A pricing strategy where the price is set based on a desired return on investment or profit margin.