Refer to the following payoff matrix:

If the payoff matrix is a simultaneous-move production game, the Nash equilibrium is for:
A) both players to produce low output.
B) both players to produce high output.
C) player 1 to produce low output and player 2 to produce high output.
D) player 1 to produce high output and player 2 to produce low output.

Question

Refer to the following payoff matrix:

If the payoff matrix is a simultaneous-move production game, the Nash equilibrium is for:
A) both players to produce low output. 
B) both players to produce high output. 
C) player 1 to produce low output and player 2 to produce high output. 
D) player 1 to produce high output and player 2 to produce low output.

Quizplus · Accepted Answer

The Answer of Refer to the following payoff matrix:

If the payoff matrix is a simultaneous-move production game, the Nash equilibrium is for:
A) both players to produce low output. 
B) both players to produce high output. 
C) player 1 to produce low output and player 2 to produce high output. 
D) player 1 to produce high output and player 2 to produce low output.

Refer to the Following Payoff Matrix