In the Following Two-Person Zero-Sum Game, the Payoffs Represent Gains

question 71

Multiple Choice

In the following two-person zero-sum game, the payoffs represent gains to the row player I and losses to column player II. The minimax strategy of player II is:

• A) to always play the first column.
• B) to always play the second column.
• C) to always play the third column.
• D) to always play the fourth column.

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Definitions:

Variable Administrative Expenses

Costs related to the administration of a business that vary with the level of activity or production.

Fixed Cost

Charges that are stable in spite of the levels of output or sales achieved, such as housing lease, salaries paid to employees, and insurance expenses.

Production Supplies

Items and materials used in the manufacturing process that are not directly incorporated into the final product.

Mainframe Computer

A large, powerful computer primarily used by large organizations for bulk data processing, such as census, industry and consumer statistics, and financial transaction processing.