Q.21 In a certain game, player A has three possible choices L, M and N, while player B has two possible choices P and Q. Payments are to be made according to the choices made. Choices L, P سال Payment A pays B3 L, Q B pays A3 M, P A pays B2 M, Q B pays A4 N. P B pays A2 B pays A3 N. Q What are the best strategies for players A and B in this game? What is the value of the game for A and B?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Question
Q.21
In a certain game, player A has three possible choices L, M and N, while player B has two
possible choices P and Q. Payments are to be made according to the choices made.
Choices
L, P
سال
Payment
A
pays
B3
L, Q
B pays A3
M, P
A
pays
B2
M, Q
B
pays
A4
N. P
B pays A2
B
pays
A3
N. Q
What are the best strategies for players A and B in this game? What is the value of the
game for A and B?
Transcribed Image Text:Q.21 In a certain game, player A has three possible choices L, M and N, while player B has two possible choices P and Q. Payments are to be made according to the choices made. Choices L, P سال Payment A pays B3 L, Q B pays A3 M, P A pays B2 M, Q B pays A4 N. P B pays A2 B pays A3 N. Q What are the best strategies for players A and B in this game? What is the value of the game for A and B?
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