7. Solving for dominant strategies and the Nash equilibrium Suppose Nick and Rosa are playing a game in which both must simultan
eously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Nick chooses Right and Rosa chooses Right, Nick will receive a payoff of 6 and Rosa will receive a payoff of 5. Rosa Left Right Nick Left 8, 4 4, 5 Right 5, 4 6, 5
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Since the slope is rise/run, 1/6 goes up one, right 6. Perpendicular is opposite that. so a slope of -6 goes down 6 and right 1. (as a fraction it's -6/1)
