In the Following Two-Person Zero-Sum Game, the Payoffs Represent Gains $\left[ \begin{array} { c c c } 2 & 3 & 4 \\5 & 6 & 7 \\8 & 9 & 10\end{array} \right]$

question 39

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.
$\left[ \begin{array} { c c c } 2 & 3 & 4 \\5 & 6 & 7 \\8 & 9 & 10\end{array} \right]$
Which of the following statements is true?

• A) The game has no saddlepoint.
• B) There is a saddlepoint at row 1, column 1.
• C) There is a saddlepoint at row 3, column 1.
• D) There is a saddlepoint at row 3, column 3.

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Definitions:

Substitute Goods

Products or services that can be used in place of each other, where the consumption of one increases the likelihood of the other being consumed less.

Demand Curve

A graph showing the relationship between the quantity of a goods or services demanded and its price, usually downward sloping.

Price Increase

A rise in the cost of goods or services over time, affecting the purchasing power of money.

Money Income

The total amount of monetary earnings or receipts accrued by an individual or household in a given time period.