Find the Optimal Row or Column Strategy of the Matrix $M$

question 36

Multiple Choice

Find the optimal row or column strategy of the matrix game.
-Let $M$ be the matrix game having payoff matrix $\left[ \begin{array} { r r r } 1 & - 4 & 1 \\ - 1 & 6 & 0 \\ - 6 & 3 & - 2 \end{array} \right]$ .
Find the optimal column strategy.

• A) \(\hat { \mathrm { y } } = \left[ \begin{array} { c } \frac { 5 } { 6 } \\ \frac { 1 } { 6 } \\ 0 \end{array} \right]\)
• B) \(\hat { \mathrm { y } } = \left[ \begin{array} { c } \frac { 1 } { 6 } \\ \frac { 5 } { 6 } \\ 0 \end{array} \right]\)
• C)\(\hat { \mathrm { y } } = \left[ \begin{array} { c } \frac { 7 } { 12 } \\ \frac { 5 } { 12 } \\ 0 \end{array} \right]\)
• D) \(\hat { y } = \left[ \begin{array} { c } \frac { 1 } { 6 } \\ 0 \\ \frac { 5 } { 6 } \end{array} \right]\)

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Definitions:

MRP

Acronym for Marginal Revenue Product, which measures the addition to total revenue resulting from the sale of the output produced by one more unit of a variable input.

Haircuts

Often used as an example in economics, referring to a service that cannot be stored, saved, or inventoried, and must be consumed at the point of production.

MRP

Material Requirements Planning, a planning and inventory control system used to manage manufacturing processes.

Purely Competitive

A market structure characterized by many buyers and sellers, where each seller offers a homogeneous product and no single buyer or seller can influence the market price.