Arthur and Bertha Are Asked by Their Boss to Vote

question 25

Multiple Choice

Arthur and Bertha are asked by their boss to vote on a company policy.Each of them will be allowed to vote for one of three possible policies, A, B, and C.Arthur likes A best, B second best, and C least.Bertha likes B best, A second best, and C least.The money value to Arthur of outcome C is $0, outcome B is $1, and outcome A is $4.The money value to Bertha of outcome C is $0, outcome B is $4, and outcome A is $1.The boss likes outcome C best, but if Arthur and Bertha both vote for one of the other outcomes, he will pick the outcome they voted for.If Arthur and Bertha vote for different outcomes, the boss will pick C.Arthur and Bertha know this is the case.They are not allowed to communicate with each other, and each decides to use a mixed strategy in which each randomizes between voting for A or for B.What is the mixed strategy equilibrium for Arthur and Bertha in this game?

• A)Arthur votes for A with probability 4/8 and for B with probability 4/8.Bertha votes for A with probability 4/8 and for B with probability 4/8.
• B)Arthur votes for A with probability 4/5 and for B with probability 1/5.Bertha votes for A with probability 1/5 and for B with probability 4/5.
• C)Arthur votes for A with probability 1/5 and for B with probability 4/5.Bertha votes for A with probability 4/5 and for B with probability 1/5.
• D)Arthur and Bertha each votes for A with probability 1/2 and for B with probability 1/2.
• E)Arthur votes for A and Bertha votes for B.

Understand the real-world applications and implications of conditioning theories for human behavior and learning.

Recognize the importance of stimuli and responses in the conditioning processes.

Identify key figures and experiments that have contributed to our understanding of conditioning.

Understand the concept of reinforcement and its role in operant conditioning.

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Definitions:

Perfect Competitor

A market situation where many small firms produce identical products, allowing them free entry and exit from the market, leading to price takers.

Imperfect Competitor

A company or entity in a market structure that does not meet the criteria of perfect competition, often having some control over market prices.

Wage Rate

Compensation received by an employee for performed work, typically quantified on an hourly, daily, or yearly basis.

MRP

The extra income produced by using an additional unit of a resource or production factor.