Suppose You Have Two Math Classes (Math 1 and Math

question 10

Multiple Choice

Suppose you have two math classes (math 1 and math 2) and two sciences courses (science 1 and science 2) that you must complete before your sophomore year in college.Assume your college is on a semester system and there are two semesters in each year.Suppose you are required to take at least one of the science courses during your freshman year.What is the event A of required science courses you could take the first semester of your freshman year?

• A)A = {math 1,math 2,science 1,science 2}
• B)A = {science 1,science 2,science 1 and science 2}
• C)A = {1}
• D)A = {1,2}

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Definitions:

Bertrand Duopoly

A market structure in which two companies compete on price, each one strategically setting its prices in response to the prices of the other.

Nash Equilibrium

A situation in a game where no player can benefit by changing their strategy while the other players keep theirs unchanged.

Bertrand Model

A model in economics that describes interactions in a market structure where firms compete on price.

Payoff Matrix

A table that shows the potential outcomes and payoffs for each combination of strategies between players in a strategic game.