Use the Following Table to Answer the Question : Table

question 38

Multiple Choice

Use the following table to answer the question : Table 14-4 : describes the payoffs to Jack and Jill when each chooses to produce rock,scissors,or paper.The payoff matrix indicates the dollar payments from the loser to the winner.

-Refer to Table 14-4.Assume for this question that "paper" is not allowed as a choice and identify the Nash equilibrium,if any.

• A)(Rock,Rock)
• B)(Scissors,Scissors)
• C)(Rock,Scissors)
• D)There is no Nash equilibrium.

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Definitions:

Median-Voter Model

A model in political science that suggests the outcome of a majority vote is most likely to represent the preferences of the median voter.

Paradox Of Voting

The situation where individual rational actors have little incentive to vote, considering their single vote is unlikely to change the outcome, yet voting occurs on a large scale.

Paradox Of Voting

The scenario where the cost of voting exceeds the expected benefits, leading to the rational abstention by individuals, despite collectively affecting the outcome.

Median-Voter Model

A theory in political science suggesting that the outcome of a majority-vote election is most likely to align with the preferences of the median voter.