Refer to the Accompanying Payoff Matrix

question 12

Multiple Choice

Refer to the accompanying payoff matrix.Which of the following is a Nash equilibrium?

• A) Company A chooses Strategy 1 and Company B chooses Strategy 1.
• B) Company A chooses Strategy 1 and Company B chooses Strategy 2.
• C) Company A chooses Strategy 2 and Company B chooses Strategy 2.
• D) Company A chooses Strategy 2 and Company B chooses Strategy 1.
• E) None of the above.

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Definitions:

Photoperiodism

The physiological reaction of organisms to the length of day or night, often affecting flowering and reproduction.

Long-day Plant

Plants that flower only after being exposed to light periods longer than a certain critical length.

Sunflower

A large plant belonging to the daisy family, known for its large flowering heads and edible seeds.

Shade Avoidance

A growth response of plants to reduce shading by neighboring plants, often resulting in elongation of stems and leaves to reach light.