The payoff matrix below shows the payoffs for Firm A and Firm B, each of whom can either "cooperate" or "cheat." The numbers in parentheses are (payoff for A, payoff for B). Firm B Cooperate Cheat Cooperate (30,30) (х, 10) Cheat (10, x) (20,20) Firm A What is the minimum value for x in order for both firms' cheating to be the only Nash equilibrium? O A. 23 О В. 38 ОС. 43 O D. 48 O E. 53

The payoff matrix below shows the payoffs for Firm A and Firm B, each of whom can either "cooperate" or "cheat." The numbers in parentheses are (payoff for A, payoff for B). Firm B Cooperate Cheat Cooperate (30,30) (х, 10) Cheat (10, x) (20,20) Firm A What is the minimum value for x in order for both firms' cheating to be the only Nash equilibrium? O A. 23 О В. 38 ОС. 43 O D. 48 O E. 53

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The payoff matrix below shows the payoffs for Firm A and Firm B, each of whom can either "cooperate" or "cheat." The numbers in parentheses are (payoff for A, payoff
for B).
Firm B
Cooperate
Cheat
Cooperate
(30,30)
(x,10)
Cheat
(10, x)
(20,20)
Firm A
What is the minimum value for x in order for both firms' cheating to be the only Nash equilibrium?
А. 23
B. 38
O C. 43
D. 48
O E. 53
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