Use the following payoff matrix for a one-shot game to answer the accompanying questions.

Player 2StrategyXYPlayer 1A48, 48-60, 8B8, -6032, 32

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.

check all that apply

• (48,48)
• (8,-60)
• (-60,8)
• (32,32)

Which of these outcomes would you consider most likely?

multiple choice 1

(48,48)(8,-60)(-60,8)(32,32)

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?

multiple choice 2

AB

What outcome do you think would occur as a result?

multiple choice 3

(48,48)(-60,8)(32,32)(8,-60)

c. Suppose player 2 can choose its strategy before player 1, that player 1 observes player 2's choice before making her decision, and that this move structure is known by both players. What outcome would you expect?

multiple choice 4

• (-60,8)
• (32,32)
• (8,-60)
• (48,48)