Explain why the value of a matrix game is positive if all of the payoffs are positive. A. If the matrix game is strictly determined and all of the payoffs are positive, D=(a+d)−(b+c)will be negative and ad−bc will be negative. Therefore, the value, v, will be positive. If the matrix game is nonstrictly determined, and all of the payoffs are positive, the saddle value will also be positive. Thus, the value, v, is positive. B. If the matrix game is strictly determined and all of the payoffs are positive, the saddle value will be negative. Thus, the value, v, is positive. If the matrix game is nonstrictly determined, D=(a+d)−(b+c) will be positive and ad−bc will be positive. Therefore, the value, v, will be positive. C. If the matrix game is strictly determined and all of the payoffs are positive, D=(a+d)−(b+c) will be positive and ad−bc will be positive. Therefore, the value, v, will be positive. If the matrix game is nonstrictly determined, and all of the payoffs are negative, the saddle value will be positive. Thus, the value, v, is positive. D.If the matrix game is strictly determined and all of the payoffs are positive, the saddle value will also be positive. Thus, the value, v, is positive. If the matrix game is nonstrictly determined, D=(a+d)−(b+c) will be negative and ad−bc will be negative. Therefore, the value, v, will be positive.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Explain why the value of a matrix game is positive if all of the payoffs are positive.

A. If the matrix game is strictly determined and all of the payoffs are positive, D=(a+d)−(b+c)will be negative and ad−bc
will be negative. Therefore, the value, v, will be positive. If the matrix game is nonstrictly determined, and all of the payoffs are positive, the saddle value will also be positive. Thus, the value, v, is positive.

B. If the matrix game is strictly determined and all of the payoffs are positive, the saddle value will be negative. Thus, the value, v, is positive. If the matrix game is nonstrictly determined, D=(a+d)−(b+c) will be positive and ad−bc will be positive. Therefore, the value, v, will be positive.

C. If the matrix game is strictly determined and all of the payoffs are positive, D=(a+d)−(b+c) will be positive and ad−bc will be positive. Therefore, the value, v, will be positive. If the matrix game is nonstrictly determined, and all of the payoffs are negative, the saddle value will be positive. Thus, the value, v, is positive.

D.If the matrix game is strictly determined and all of the payoffs are positive, the saddle value will also be positive. Thus, the value, v, is positive. If the matrix game is nonstrictly determined, D=(a+d)−(b+c)

will be negative and ad−bc will be negative. Therefore, the value, v, will be positive.

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