Author Question: What is a zero-sum game? Explain with an example. What will be an ideal ... (Read 47 times)

LaDunn · **on:** Jun 29, 2018

What is a zero-sum game? Explain with an example.

What will be an ideal response?

Question 2

Legislation setting high minimum wage rates benefits

A) many people receiving wages far above the minimum by reducing competition from unskilled workers.
B) no group in the economy, but is nonetheless widely supported out of ignorance.
C) only people who were previously receiving less than the legal minimum.
D) primarily teenagers and unskilled workers.
E) the whole economy by pushing up average income.

dudman123 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

A zero-sum game is one in which one player's gain is another player's loss, so the sum of the payoffs is zero. A game of poker is an example of a zero-sum game because in this game, one player's loss is another player's gain.

Answer to Question 2

A