QUESTION 7 If a strategy profile is a Nash Equilbrium O a Players maximize their

Question

QUESTION 7 If a strategy profile is a Nash Equilbrium O a Players maximize their own payoffs b. Players are using B strety dominant strategy. O o All the other answer options are correct Od. Players may be using a weakly dominated strategy QUESTION 8 Player II A 10,3 2,-2 10,-1 B 3-3 4,3 7-2 C 2,5 3,0 6,1 Player In the strategio form game above. the set of ratonalizable strategies for players 1 and 2 are respectively O a. (A.B.C) and (DEF). Ob. (A) and (D) o d. (AB) and (D.E. QUESTION 9 Player lI A 3,-1 1,16,1 ayerB 4,1 00 6,5 Consider the game in normal form above and select all that apply D 2 There is a unique Nash Equilibrium in pure strategies O b. The strategy profile (C.F) is a Nash Equilibrium C. The strategy profile (B.D) is a Nash Equlibrium d. There is an equilibrium in mized strategies

Explanation / Answer

Question-7: c) all the remaining are correct. Nash Equilibrium is a term used in game theory to describe an equilibrium where each player's strategy is optimal given the strategies of all other players.A Nash Equilibrium exists when there is no unilateral profitable deviation from any of the players involved. In other words, no player in the game would take a different action as long as every other player remains the same. Nash Equilibria are self-enforcing; when players are at a Nash Equilibrium they have no desire to move because they will be worse off.   Dominance and Nash equilibria. If a strictly dominant strategy exists for one player in a game, that player will play that strategy in each of the game's Nash equilibria. If both players have a strictly dominant strategy, the game has only one unique Nash equilibrium.

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