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Question 1 Suppose that Jack and Jill are the only two suppliers of water in Uphill City. The table below shows the pay-off matrix representing

Question 1 Suppose that Jack and Jill are the only two suppliers of water in Uphill City. The table below shows the pay-off matrix representing their profits per month, depending on the quantity of water each of them chooses to sell.

image text in transcribedimage text in transcribed
Jack's decision Sell 30 litres Sell 40 litres Jill's Sell 30 litres $3000, $3000 $1800, $3600 decision Sell 40 litres $3600, $1800 $2000, $2000Synergy's decision Large budget Small budget Dynaco's Large budget 30, 20 70, 0 decision Small budget 0, 30 50, 40

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