What Is True About the Following Payoff Matrix A) Only Player a Has a Dominant Strategy

question 45

Multiple Choice

What is true about the following payoff matrix? $\begin{array} { | l | l | c | } \hline & { \text { A: cooperate } } & \text { A: not cooperate } \\\hline \text { B: cooperate } & \text { A: } 2 , \text { B: } 2 & \text { A: } 5 , \text { B: } 5 \\\hline \text { B: do not cooperate } & \text { A: } 3 , \text { B: } 1 & \text { A: } 0 , \text { B: } 0 \\\hline\end{array}$

• A) Only player A has a dominant strategy.
• B) Only player B has a dominant strategy.
• C) Both player A and player B have dominant strategies.
• D) Neither player A nor player B has a dominant strategy.

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Definitions:

Average Costs

The total costs (fixed and variable) divided by the total quantity produced, representing the cost per unit of production.

Merchandise Purchases

The procurement of goods for resale, typically in a retail or wholesale environment, not involving the manufacturing process.

Merchandise Inventory

The goods a company holds for the purpose of sale to customers.

Cost of Goods Sold

The total cost associated with making or buying the products that a company has sold during a period.