Consider the following Extended Form Game: 01 O 5 03 A 09 (2,3) P1 ار A' (5,5) A' B (3,8) A P2 B' (1,9) Player 1 always plays B. Player 2 chooses the strategy (B', B'). What is the payoff of player 1? P2 B' P1 B (9,1)
Consider the following Extended Form Game: 01 O 5 03 A 09 (2,3) P1 ار A' (5,5) A' B (3,8) A P2 B' (1,9) Player 1 always plays B. Player 2 chooses the strategy (B', B'). What is the payoff of player 1? P2 B' P1 B (9,1)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Question 28
Consider the following Extended Form Game:
01
O 5
O 3
A
09
(2,3)
P1
A'
(5,5)
A'
B
(3,8)
A
P2
B'
P2
B'
(1,9)
Player 1 always plays B. Player 2 chooses the strategy (B', B'). What is the payoff of player 1?
P1
B
(9,1)
Transcribed Image Text:Question 27
Consider the following Extended Form Game:
(2,3)
O (A,A)
O (B',B')
A
O (B,A')
O (A',B')
P1
A'
(5,5)
A'
(3,8)
B
A
P2
B'
P2
B'
(1,9)
Player 1 chooses the strategy (B,A). What is the best response of player 2?
P1
B
(9,1)
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