-Refer to the Payoff Matrix Above

question 50

Multiple Choice

-Refer to the payoff matrix above. Which of the following is the iterated elimination of dominated strategies outcome of the game?

• A)Middle/High
• B)High/High
• C)Low/High
• D)Low/Middle

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Definitions:

Good Faith

An honest intention to act without taking an unfair advantage over another party.

Limit Liability

A legal principle or provision that caps the amount one can be held responsible for in case of damage or loss.

Stop-payment Order

A request made to a bank by an account holder not to pay a check or transaction previously authorized.

Negligence

The failure to take reasonable care to prevent harm to others that a reasonably prudent person would have taken under the same circumstances.