Big Pig and Little Pig Have Two Possible Strategies, Press

question 6

Multiple Choice

Big Pig and Little Pig have two possible strategies, Press the Button, and Wait at the Trough.If both pigs choose Wait, both get 1.If both pigs Press the Button, then Big Pig gets 6 and Little Pig gets 4.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, then Big Pig gets 6 and Little Pig gets 2.In Nash equilibrium,

• A)Little Pig will get a payoff of 4 and Big Pig will get a payoff of 6.
• B)Little Pig will get a payoff of 2 and Big Pig will get a payoff of 6.
• 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.

Understand the historical importance and consequences of public health legislation.

Identify and describe the roles of Zemstvos and Dumas in Russian history.

Analyze the causes and outcomes of the Crimean War, focusing on fatalities.

Recognize the economic changes and major exports in France during the 1860s.

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Definitions:

Trade Credit Discounts

Reductions in the price of goods or services offered to buyers as an incentive to pay earlier than the payment terms require.

Costly Trade Credit

Describes the high costs associated with taking advantage of credit offered by suppliers or creditors, particularly when payment terms are not met, resulting in high interest rates or financial penalties.

Accounts Payable

Liabilities or money owed by a company to its creditors for goods and services that have been delivered or used, but not yet paid for.

Discount Period

The time period between when a bill is discounted and its maturity date; in finance, it often refers to the period for which a discount is applied to a cash flow.