1. Suppose you are playing the game of rock-paperscissors with your friend. As we saw in class, there are three possible outcomes: win (IV), lose (L), or draw (D). If you have a utility function u which assigns payoffs to each outcome: (a) (5 points) We call a relationship ordinal if only the order matters. How many ordinal preference relationships can there be in this game, if you are never indifferent (i.e. placed the same utility on) between outcomes? (b) (5 points) Give an explanation of what kinds of preferences would create a rela- tionship like u(W) u(L) = u(W)? A