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Two-person, zero-sum games
Two players X & Y have two alternatives. They show their choices by pressing two types of buttons in front of them but they cannot see the opponents move. It is assumed that both players have equal intelligence and both intend to win the game.
This kind of simple game can be described in tabular form as follows:
The game is biased against Y, since if player X presses button m, he will always win. Therefore Y will be forced to press button r, to cut down his losses.
Phases of product life cycle The life cycle of a product having of four phases viz., introduction growth maturity decline during introduction phase a product is launched into
contribution margin
QUEUING THEORY When limited facilities fail/delays to satisfy demands made upon them, problems occur which generate queues or waiting lines. Illustrations are: • Customers
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