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Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2 Strategy X Y A 10, 10 5, -150 Player
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2 Strategy X Y A 10, 10 5, -150 Player 1 B -150, 5 25, 25 a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click twice to empty the box. 7 (25, 25) ? (10, 10) 7 (5, -150) ? (-150, 5) Which of these outcomes would you consider most likely? O (10, 10) O (25, 25) O (-150, 5) O (5, -150) b. Suppose player 1 is permitted to "communicate" by uttering one syllable before the players simultaneously and independently make their decisions. What should player 1 utter? OA OB
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