Economics 4. Suppose you are going to play a game with four other people in our class. The rule of the game is that: each of them will choose a number between and 100 (including 0 and 100). The winner of the game is the one whose chosen number is the closest to [20+* average of everyone's chosen number]. The winner can get $100 form Josie. Everyone choosing 20 is a Nash Equilibrium. (a) True (b) False

Economics 4. Suppose you are going to play a game with four other people in our class. The rule of the game is that: each of them will choose a number between and 100 (including 0 and 100). The winner of the game is the one whose chosen number is the closest to [20+* average of everyone's chosen number]. The winner can get $100 form Josie. Everyone choosing 20 is a Nash Equilibrium. (a) True (b) False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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