Exercise 1 [4 pointsl: Below. several situations are described. For each situation, if it is a game. classify it according to the following criteria:…
1. Every year, a city government offers a contract to manage cafeteria services at city hall. There are 2 firms which bid for this contract: each firm submits some amount of money which they want to receive in exchange for fulfilling the contract, and the government awards the contract to the lowest bidder. The firms can fulfill the contract at no cost: they are indifferent between not winning the contract, and winning the contract but being paid $0 for it. When they win the contract, they would prefer to be paid more.
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