Last two options are left/right 7. Solving for dominant strategies and the Nash

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Last two options are left/right

7. Solving for dominant strategies and the Nash equilibrium Suppose Charles and Dina are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Charles chooses Right and Dina chooses Right, Charles will receive a payoff of 5 and Dina will receive a payoff of 3. Dina Left Righ Left 4,46, 3 Right 5,45,3 Charles Charles Dina The only dominant strategy in this game is for to choose The outcome reflecting the unique Nash equilibrium in this game is as follows: Charles chooses and Dina chooses . Grade It Now Save & Continue Continue without saving

Explanation / Answer

a) Dina

b) Left

Dina gets higher payoff of $ 4 while choosing left irrespective of decision of charles.

c) Right

d) Left

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