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Patricia owns a cleaning business with Sarah. They both have other jobs and are trying to determine the number of hours to work at the
Patricia owns a cleaning business with Sarah. They both have other jobs and are trying to determine the number of hours to work at the cleaning business. The following payoff matrix shows their daily incomes depending on the number of hours they work at the cleaning business.
Sarah | |||
---|---|---|---|
Patricia | Full time | Part time | |
Full time | $60, $60 | $50, $80 | |
Part time | $80, $50 | $55, $55 |
Which of the following accurately describes the payoff matrix above? (2 points)
Neither Patricia nor Sarah have a dominant strategy. | |
Patricia has a dominant strategy to work full-time, and Sarah has no dominant strategy. | |
Sarah has a dominant strategy to work full-time, and Patricia has no dominant strategy. | |
Patricia and Sarah both have a dominant strategy to work full time. | |
Patricia and Sarah both have a dominant strategy to work part time. |
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