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Consider the following game, where x>0 Q1 1) What is the difference between a dominant strategy and a dominated strategy? Why would a player in
Consider the following game, where x>0 Q1
1) What is the difference between a dominant strategy and a dominated strategy? Why would a player in a game be unlikely to choose a dominated strategy?
2) For what values of x do both players have a dominant strategy? What is the Nash equilibrium?
3) Are there any values of x such that only one player have a dominant strategy?
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