File attached: Looking for help on some, if not all questions
7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 1/12 Exams Take Test: Midterm 2H Take Test: Midterm 2 Test Information Description Instructions Multiple Attempts Not allowed. This test can only be taken once. Force Completion This test can be saved and resumed later. QUESTION 1 Consider the following Stackelberg environment. There are three firms in the market. All firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. Finally, firm 3 observes the quantity supplied by firm 1 and firm 2 and chooses how much to supply. The market demand is . For firm , the total cost function is . Firm 2 solves: 10 points Save AnswerSave Answer QUESTION 2 10 points Save AnswerSave Answer ?? Question Completion Status: My Illinois Compass 2g Content Collection SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. Dominick Sperando 9 https://compass2g.illinois.edu/ https://compass2g.illinois.edu/webapps/blackboard/execute/courseMain?course_id=_59965_1 https://compass2g.illinois.edu/webapps/blackboard/content/listContent.jsp?course_id=_59965_1&content_id=_5415501_1&mode=reset https://compass2g.illinois.edu/webapps/portal/execute/tabs/tabAction?tab_tab_group_id=_1_1 https://compass2g.illinois.edu/webapps/portal/execute/tabs/tabAction?tab_tab_group_id=_13_1 https://compass2g.illinois.edu/webapps/login/?action=logout 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 2/12 Consider the following Stackelberg environment. There are three firms in the market. All firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. Finally, firm 3 observes the quantity supplied by firm 1 and firm 2 and chooses how much to supply. The market demand is . For firm , the total cost function is . What is the quantity produced by firm 1? QUESTION 3 Consider the following Stackelberg environment. There are three firms in the market. All firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. Finally, firm 3 observes the quantity supplied by firm 1 and firm 2 and chooses how much to supply. The market demand is . For firm , the total cost function is . Profit of firm is In this environment, 10 points Save AnswerSave Answer QUESTION 4 Consider the following Stackelberg environment. There are three firms in the market. All firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. Finally, firm 3 observes the quantity supplied by firm 1 and firm 2 and chooses how much to supply. The market demand is . For firm , the total cost function is . What is the quantity produced by firm 2? 10 points Save AnswerSave Answer QUESTION 5 Consider the following Stackelberg environment. There are three firms in the market. All firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. Finally, firm 3 observes the quantity supplied by firm 1 and firm 2 and chooses how much to supply. The market demand is . For firm , the total cost function is . What is the quantity produced by firm 3? 25 10 points Save AnswerSave Answer Question Completion Status: SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 3/12 25 12.5 50 18.75 QUESTION 6 Consider the following Stackelberg duopoly. Both firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. The market demand is . For firm , the total cost of production is . What is the optimization problem that firm 1 solves? 10 points Save AnswerSave Answer QUESTION 7 Consider the following Stackelberg duopoly. Both firms produce differentiated goods. For form 1, the demand is . For form 1, the demand is . Firm 1 chooses the price first. Firm 2 chooses the price after observing the choice of firm 1. For firm , the total cost function is . What is the price set by firm 2? 107/12 71/3 147/12 35/3 10 points Save AnswerSave Answer QUESTION 8 Consider the following Stackelberg duopoly. Both firms produce differentiated goods. For form , the demand is . Firm 1 chooses the price first. Firm 2 chooses the price after observing the choice of firm 1. For firm , the total cost function is . What is ? 10 points Save AnswerSave Answer Question Completion Status: SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 4/12 85 72.5 60 48.5 QUESTION 9 Consider a standard Stackelberg environment. Two firms produce heterogenous goods. The demand function for good is , where is the price. Firm faces the following cost function: . Firm 1 chooses the price first. Firm 2 chooses the price after observing . In this environment, 10 points Save AnswerSave Answer QUESTION 10 Consider the following Stackelberg duopoly. Both firms produce differentiated goods. For form , the demand is . Firm 1 chooses the price first. Firm 2 chooses the price after observing the choice of firm 1. For firm , the total cost function is . What is ? 85 72.5 60 48.5 10 points Save AnswerSave Answer QUESTION 11 Consider the following Stackelberg duopoly. Both firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. The market demand is . For firm , the total cost of production is . What is the quantity produced by firm 1? 10 points Save AnswerSave Answer Question Completion Status: SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 5/12 QUESTION 12 Consider the following Stackelberg duopoly. Both firms produce differentiated goods. For form 1, the demand is . For form 1, the demand is . Firm 1 chooses the price first. Firm 2 chooses the price after observing the choice of firm 1. For firm , the total cost function is . What is the price set by firm 1? 63/9 71/9 140/3 35/3 10 points Save AnswerSave Answer QUESTION 13 Consider the following Stackelberg duopoly. Both firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. The market demand is . For firm 1, the marginal cost of production is . For firm 2, the marginal cost of production is . What function describes the reaction of firm 2 to the observed quantity produced by firm 1? 10 points Save AnswerSave Answer QUESTION 14 Consider the following Stackelberg duopoly. Both firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. The market demand is . For firm 1, the marginal cost of production is . For firm 2, the marginal cost of production is . What is the quantity produced by firm 1? 105 48 10 points Save AnswerSave Answer Question Completion Status: SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 6/12 120 12 QUESTION 15 Consider the following Stackelberg duopoly. Both firms produce a homogenous good. Firm 1 chooses how much to supply first. Firm 2 chooses how much to supply after observing the quantity supplied by firm 1. The market demand is . For firm 1, the marginal cost of production is . For firm 2, the marginal cost of production is . What is the market clearing price? 10 points Save AnswerSave Answer QUESTION 16 Consider the following Extended Form Game: What is the payoff that player 2 derives from the strategy {A, (B',A')}? 1 3 4 7 10 points Save AnswerSave Answer QUESTION 17 10 points Save AnswerSave Answer Question Completion Status: SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 7/12 True False Consider the following Extended Form Game: Player 2 threatens she will play B' no matter what. Is this threat credible? QUESTION 18 Consider the following Extended Form Game: Player 1 always plays B. Player 2 chooses the strategy (B', B'). What is the payoff of player 1? 3 10 points Save AnswerSave Answer Question Completion Status: SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 8/12 9 1 5 QUESTION 19 Consider the following Extended Form Game: What payoff does player 1 derives if player 1 chooses the strategy (B,A) and player 2 chooses the strategy (A', B')? 9 5 8 1 10 points Save AnswerSave Answer QUESTION 20 10 points Save AnswerSave Answer Question Completion Status: SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_54155… 9/12 True False Consider the following Extended Form Game: Player 2 threatens to play (A',B') no matter what. Is this threat credible? QUESTION 21 Consider the following Extended Form Game: What is the Subgame Perfect Nash Equilibria? 10 points Save AnswerSave Answer Question Completion Status: SaSa Click Save and Submit to save and submit. Click Save All Answers to save all answers. 7/26/2021 Take Test: Midterm 2 – Summer 2021-ECON 437-Game ... https://compass2g.illinois.edu/webapps/assessment/take/launch.jsp?course_assessment_id=_188948_1&course_id=_59965_1&content_id=_5415… 10/12 (B,(B', B')) { (B,(B',A')), (B,(B', B'))} {(B, B')} { (B,(A', B')), (B,(B', B'))} QUESTION 22 Consider the following Extended Form Game: What is the Subgame Perfect