4. On December 28, 2020, the U.S. Dollar (USD) / Euro (EUR) exchange rate was 1 USD 0.82 EUR. (a) Suppose a European person is bidding 75 USD on an item on Ebay. What will be the price in Euros? (b) Suppose a U.S. person is traveling in Spain, and hotel room costs 200 EUR. What is the cost in U.S. dollars?

12. Consider a game where each player picks a number from 0 to 60. The guess that is closest to half ofthe average of the chosen numbers wins a prize. If several peopleare equally close, then they share theprize. The game theory implies that (A) all players have dominant strategies to choose 0 (B) all players have dominant strategies to choose 30 (C) there is a Nash equilibrium where all players pick 0 (D) there is a Nash equilibrium where all players pick positive numbers   13. Behavioral data in such games suggests that (A) most subjects choose 0; (B) most subjects choose 30; (C) common answers include 30, 15, 7.5, and 0; (D) most subjects use randomization.   Can you help me answer number 13 please?

A5

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