ECN 601 EXAM 2 | 2025/2026 UPDATE | QUESTIONS
AND ANSWERS | GRAND CANYON UNIVERSITY
In a principal-agent relationship Answer - The principal wants the agent to act
on her own behalf.
Viceroy Vacations is deciding on how to price its vacation packages. Which of
the following strategies would you suggest? Answer - Advertise them as an all-
inclusive vacations.
In a two-person repeated game, a tit-for-tat strategy is: Answer - When players
start by cooperating and then mimic the other player's last move.
Compared to simple pricing, price discrimination leads to: Answer - Both B and
C
The optimal strategy in a Vickery auction is to: Answer - Bid exactly your value.
Use the table provided to answer the following question. If the groups are of
equal size and the firm can only set one price, how should the firm price the
high-end wok? Answer - Price low and sell to both groups.
The general rule to increase profits when two close complementary brands are
jointly owned is: Answer - Increase prices for both brands.
AND ANSWERS | GRAND CANYON UNIVERSITY
In a principal-agent relationship Answer - The principal wants the agent to act
on her own behalf.
Viceroy Vacations is deciding on how to price its vacation packages. Which of
the following strategies would you suggest? Answer - Advertise them as an all-
inclusive vacations.
In a two-person repeated game, a tit-for-tat strategy is: Answer - When players
start by cooperating and then mimic the other player's last move.
Compared to simple pricing, price discrimination leads to: Answer - Both B and
C
The optimal strategy in a Vickery auction is to: Answer - Bid exactly your value.
Use the table provided to answer the following question. If the groups are of
equal size and the firm can only set one price, how should the firm price the
high-end wok? Answer - Price low and sell to both groups.
The general rule to increase profits when two close complementary brands are
jointly owned is: Answer - Increase prices for both brands.
