Consider the Normal Form Game characterized in the following figure: P1 \ P2 b1 b2 b3 a1 (1,2) (0,1) (0,3) a2 (3,-1) (1,1) (-1,0) a3 (2.2) (1,-1) (3,0) a4 (-5,1) (-1,0) (-3,-2) a5 (-3,3) (3,0) (2,4) What is the set of actions of player 1? O {al, a2, a3, a4, a5) O {b1,b2, b3} O {a2, a3, a4) {b1,b2}

Consider the Normal Form Game characterized in the following figure: P1 \ P2 b1 b2 b3 a1 (1,2) (0,1) (0,3) a2 (3,-1) (1,1) (-1,0) a3 (2.2) (1,-1) (3,0) a4 (-5,1) (-1,0) (-3,-2) a5 (-3,3) (3,0) (2,4) What is the set of actions of player 1? O {al, a2, a3, a4, a5) O {b1,b2, b3} O {a2, a3, a4) {b1,b2}

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Consider the Normal Form Game characterized in the following figure:
P1 \ P2 b1 b2 b3
a1
(1,2) (0,1) (0,3)
a2
(3,-1) (1,1) (-1,0)
a3
(2,2) (1,-1) (3,0)
a4
(-5,1) (-1,0) (-3,-2)
a5
(-3,3) (3,0) (2,4)
What is the set of actions of player 1?
O la 1, a2, a3, a4, a5)
O (b1,b2, b3}
O {a2, a3, a4)
O (bl, b2}

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