Problem 2. Consider the given strategic form game. L M₂ R U 6,3 1,2 4,2 M₁ 1,1 5,2 6,4 D 4,4 4,3 0,2 (a) For player 1, can her strategy D be a best response against a mixed strategy o2 of player 2? (b) Is M₂ strictly dominated by a mixed strategy for player 2? (c) What would the result of the iterative elimination of strictly dominated strategies?
Problem 2. Consider the given strategic form game. L M₂ R U 6,3 1,2 4,2 M₁ 1,1 5,2 6,4 D 4,4 4,3 0,2 (a) For player 1, can her strategy D be a best response against a mixed strategy o2 of player 2? (b) Is M₂ strictly dominated by a mixed strategy for player 2? (c) What would the result of the iterative elimination of strictly dominated strategies?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Problem 2. Consider the given strategic form game.
L
M₂ R
U
6,3 1,2 4, 2
5,2 6,4
M₁ 1,1
D 4,4 4,3 0,2
(a) For player 1, can her strategy D be a best response against a mixed
strategy o2 of player 2?
(b) Is M₂ strictly dominated by a mixed strategy for player 2?
(c) What would the result of the iterative elimination of strictly dominated
strategies?
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