Author Question: Fill in the blank: Middlemen tend to have ________ in information production. A) no interest B) ... (Read 49 times)

PhilipSeeMore · **on:** Jun 29, 2018

Fill in the blank: Middlemen tend to have ________ in information production.

A) no interest
B) a comparative advantage
C) a monopoly
D) little time to engage
E) a wasteful way of engaging

Question 2

Differentiate between a payoff matrix and a game tree.

What will be an ideal response?

leahm14 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

A payoff matrix and a game tree both show the payoff for each action players can take. However, a payoff matrix is used for a simultaneous move game, while a game tree is used for an extensive-form game.