the player loses; if both players receive zero, the players tie. Which of the following statements is true Grace Rock Paper Scissors Rock Paper Scissors Will 0,0 -1, 1 1,-1 1,-1 0,0 -1,1 -1, 1 1,-1 0,0 O Will's dominant strategy is to play rock, and Grace's dominant strategy is to play rock. O Will's dominant strategy is to play paper, and Grace's dominant strategy is to play rock.
the player loses; if both players receive zero, the players tie. Which of the following statements is true Grace Rock Paper Scissors Rock Paper Scissors Will 0,0 -1, 1 1,-1 1,-1 0,0 -1,1 -1, 1 1,-1 0,0 O Will's dominant strategy is to play rock, and Grace's dominant strategy is to play rock. O Will's dominant strategy is to play paper, and Grace's dominant strategy is to play rock.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1
![Question 43
The following payoff matrix depicts the possible outcomes for two players involved in a game of rock-
paper-scissors. If a player receives a payoff of 1, the player wins; if the player receives a payoff of -1,
the player loses; if both players receive zero, the players tie. Which of the following statements is true?
Grace
Rock
Paper
Scissors
Will
Rock
0,0
-1, 1
1, -1
Paper
1,-1
0,0
-1, 1
Scissors
-1, 1
1.-1
0,0
Will's dominant strategy is to play rock, and Grace's dominant strategy is to play rock.
O Will's dominant strategy is to play paper, and Grace's dominant strategy is to play rock.
O Wil's dominant strategy is to play rock, and Grace's dominant strategy is to play paper.
Will's dominant strategy is to play scissors, and Grace does not have a dominant strategy.
Neither Will nor Grace has a dominant strategy.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fec52becf-00d5-4bdb-a09b-b47230e91580%2F53d0aa69-b8d1-4847-b3dc-9613212ecd35%2Fypsov5c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 43
The following payoff matrix depicts the possible outcomes for two players involved in a game of rock-
paper-scissors. If a player receives a payoff of 1, the player wins; if the player receives a payoff of -1,
the player loses; if both players receive zero, the players tie. Which of the following statements is true?
Grace
Rock
Paper
Scissors
Will
Rock
0,0
-1, 1
1, -1
Paper
1,-1
0,0
-1, 1
Scissors
-1, 1
1.-1
0,0
Will's dominant strategy is to play rock, and Grace's dominant strategy is to play rock.
O Will's dominant strategy is to play paper, and Grace's dominant strategy is to play rock.
O Wil's dominant strategy is to play rock, and Grace's dominant strategy is to play paper.
Will's dominant strategy is to play scissors, and Grace does not have a dominant strategy.
Neither Will nor Grace has a dominant strategy.
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