[See Solution] Characterize each of the following as a positive-sum game, a zero-sum game or a negative-sum game. You play a card game in your form room
Question: Characterize each of the following as a positive-sum game, a zero-sum game or a negative-sum game.
- You play a card game in your form room with three other students. Each player brings $5 to the game to bet on the outcome, winner take all.
- Two nations exchange goods in a mutually beneficial transaction.
- A thousand people buy $1 lottery tickets with a single payoff of $800.
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