Consider the following game that represents the payoffs from different advertising campaigns (low, medium, and high spending) for two political candidates that are running for a particular office. The values in the payoff matrix represent the share of the popular vote earned by each candidate: Under the version of the game with simultaneous moves, what is the Nash equilibrium?
A) Neither candidate has a dominant strategy, but the Nash equilibrium occurs where both candidates use medium advertising campaigns.
B) Candidate A's dominant strategy is high, Candidate B's dominant strategy is high, and this is the Nash equilibrium.
C) Neither candidate has a dominant strategy, but the Nash equilibrium occurs where both candidates use high advertising campaigns.
D) There is no Nash equilibrium (in pure strategies) for this simultaneous game.

Question

Consider the following game that represents the payoffs from different advertising campaigns (low, medium, and high spending) for two political candidates that are running for a particular office. The values in the payoff matrix represent the share of the popular vote earned by each candidate:  Under the version of the game with simultaneous moves, what is the Nash equilibrium?
A) Neither candidate has a dominant strategy, but the Nash equilibrium occurs where both candidates use medium advertising campaigns. 
B) Candidate A's dominant strategy is high, Candidate B's dominant strategy is high, and this is the Nash equilibrium. 
C) Neither candidate has a dominant strategy, but the Nash equilibrium occurs where both candidates use high advertising campaigns. 
D) There is no Nash equilibrium (in pure strategies) for this simultaneous game.

Quizplus · Accepted Answer

The Answer of Consider the following game that represents the payoffs from different advertising campaigns (low, medium, and high spending) for two political candidates that are running for a particular office. The values in the payoff matrix represent the share of the popular vote earned by each candidate:  Under the version of the game with simultaneous moves, what is the Nash equilibrium?
A) Neither candidate has a dominant strategy, but the Nash equilibrium occurs where both candidates use medium advertising campaigns. 
B) Candidate A's dominant strategy is high, Candidate B's dominant strategy is high, and this is the Nash equilibrium. 
C) Neither candidate has a dominant strategy, but the Nash equilibrium occurs where both candidates use high advertising campaigns. 
D) There is no Nash equilibrium (in pure strategies) for this simultaneous game.

Consider the Following Game That Represents the Payoffs from Different