Question

question 31 pts suppose that two players are playing the following game. player 1 can choose either top or bottom, and player 2 can choose either left or right. the payoffs are given in the following table: where the number on the left is the payoff to player a, and the number on the right is the payoff to player b. if each player plays their maximin strategy, the outcome of the game will be player b player a left right top 8 1 2 6 bottom 3 5 4 2 group of answer choices top/left top/right bottom/left bottom/right

Answer 1

A) Player 1 does not have a dominant strategy because if player 2 plays left, then player 1 should play bottom but if player 2 plays right then player 1 should play top. For a dominant strategy to existing player 1 would have to chose top or bottom regardless of what player 2 does.

B) Player 2 has a dominant strategy of left because this always produces a better outcome for this player. Specifically, if player 1 plays top player 2 is better off playing left (since 5 > 4) and if player 1 plays bottom player 2 is still better off playing left (since 4 > 3)

C) i) Top/Left is not a Nash Equilibrium because if player 2 plays left then player 1 would be better off playing bottom and it only takes one player wanting to deviate to ruin a potential Nash Equilibrium.

ii) Top/Right is not a Nash Equilibrium because given player 1's choice of top, player 2 would play left.

iii) Bottom/Left is a Nash Equilibrium because no player is better off deviating given the action of the other player. Specificially, given player 1's choice of bottom, player 2 would be worse off chosing right (since 3 < 4) so player 2 will not deviate. Given player 2's choice of left, player 1 would be worse off playing top (since 6 < 7) so player 1 also will not deviate.

iv) Bottom/Right is not a Nash Equilibrium because given player 1's choice of bottom, player 2 would be better of playing left (since 4 > 3).

Economic market equilibrium occurs whilst supply and calls for degrees align, creating ideal marketplace conditions for consumers and dealers. The sorts of financial equilibrium encompass microeconomic and macroeconomic. In microeconomics, delivery and call between buyers and sellers are balanced.

Simplest 3 varieties of stresses can exchange the composition of an equilibrium aggregate: (1) a change inside the concentrations (or partial pressures) of the additives by using adding or doing away with reactants or merchandise, (2) an alternate in the general strain or quantity, and (three) an exchange within the temperature of the gadget.

Learn more about Equilibrium here: https://brainly.com/question/26075805

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