Determine Whether the Two-Person, Zero-Sum Matrix Game Is Strictly Determined

question 40

Short Answer

Determine whether the two-person, zero-sum matrix game is strictly determined. If the game is strictly determined, find the saddle point(s) of the game.
Find the optimal strategy for each player.
Find the value of the game.
Determine whether the game favors one player over the other.
The game favors __________ player.

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Definitions:

Labor Hours

Labor hours refer to the total number of hours worked by employees within a specified period, often used to measure productivity and labor costs.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the tangible machinery and production equipment used in environments such as factories.

Price Ceilings

a government-imposed limit on how high a price can be charged for a product, service, or commodity.

Black Markets

Unauthorized or illegal trading of goods and services that violate government regulations.