Use the following table to answer the question : Table 14-4 : describes the payoffs to Jack and Jill when each chooses to produce rock,scissors,or paper.The payoff matrix indicates the dollar payments from the loser to the winner.

-Refer to Table 14-4.Identify the Nash equilibrium,if any.
A)(Rock,Rock)
B)(Rock,Paper)
C)(Paper,Paper)
D)There is no Nash equilibrium.

Question

Use the following table to answer the question : Table 14-4 : describes the payoffs to Jack and Jill when each chooses to produce rock,scissors,or paper.The payoff matrix indicates the dollar payments from the loser to the winner.

-Refer to Table 14-4.Identify the Nash equilibrium,if any.

-Refer to Table 14-4.Identify the Nash equilibrium,if any.
A)(Rock,Rock) 
B)(Rock,Paper) 
C)(Paper,Paper) 
D)There is no Nash equilibrium.

Quizplus · Accepted Answer

There is no Nash equilibrium in this game because both players have dominant strategies. Jack's dominant strategy is to always choose rock, while Jill's dominant strategy is to always choose scissors. This results in a payoff of (0, 6) for Jack and (6, 0) for Jill, regardless of the other player's choice. Therefore, there is no combination of strategies that would improve either player's payoff.

Use the Following Table to Answer the Question : Table