Question
Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying questions. Player 2 Strategy C D E F Player 1 A
Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying questions.
| Player 2 | |||||
| Strategy | C | D | E | F | |
| Player 1 | A | 12, 12 | 21, 7 | 7, 14 | 15, 8 |
| B | 18, 15 | 13, 12 | 16, 18 | 7, 8 |
a. What is player 1's optimal strategy?
multiple choice
Strategy A Incorrect
Player 1 does not have an optimal strategy.
Strategy B
b. Determine player 1's equilibrium payoff.
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Contemporary Advertising
Authors: William F Arens
16th Edition
1260735419, 9781260735413
