(Table) Referring to the payoff matrix for Norm and Pete (with Norm's profit in plain text and Pete's profit in italics), who has a dominant strategy?
$\begin{array}{c}
\quad \quad \quad \quad \quad \quad \quad \text { Pete's Pasta Dinners } \
\begin{array}{|l|l|ll|ll|}
\hline & & {\text { High Price }} & &{\text { Price }} \
\hline \text {Norm's Noodle Bowls } & \text { High Price } & \$ 4,000 & \$ 4,500 & \$ 700 & \$ 3,500 \
\hline &\text { Low Price } & \$ 2,800 & \$ 500 & \$ 3,000 & \$ 3,700 \
\hline
\end{array}\end{array}$
A) both Norm and Pete
B) neither Norm nor Pete
C) Norm, but not Pete
D) Pete, but not Norm

Question

(Table) Referring to the payoff matrix for Norm and Pete (with Norm's profit in plain text and Pete's profit in italics), who has a dominant strategy?
$\begin{array}{c}
 \quad  \quad  \quad  \quad  \quad  \quad  \quad \text { Pete's Pasta Dinners } \
\begin{array}{|l|l|ll|ll|}
\hline & & {\text { High Price }} & &{\text { Price }} \
\hline \text {Norm's Noodle  Bowls } & \text { High Price } & \$ 4,000 & \$ 4,500 & \$ 700 & \$ 3,500 \
\hline  &\text { Low Price } & \$ 2,800 & \$ 500 & \$ 3,000 & \$ 3,700 \
\hline
\end{array}\end{array}$
A) both Norm and Pete
B) neither Norm nor Pete
C) Norm, but not Pete
D) Pete, but not Norm

Quizplus · Accepted Answer

The Answer of (Table) Referring to the payoff matrix for Norm and Pete (with Norm's profit in plain text and Pete's profit in italics), who has a dominant strategy?
$\begin{array}{c}
 \quad  \quad  \quad  \quad  \quad  \quad  \quad \text { Pete's Pasta Dinners } \
\begin{array}{|l|l|ll|ll|}
\hline & & {\text { High Price }} & &{\text { Price }} \
\hline \text {Norm's Noodle  Bowls } & \text { High Price } & \$ 4,000 & \$ 4,500 & \$ 700 & \$ 3,500 \
\hline  &\text { Low Price } & \$ 2,800 & \$ 500 & \$ 3,000 & \$ 3,700 \
\hline
\end{array}\end{array}$
A) both Norm and Pete
B) neither Norm nor Pete
C) Norm, but not Pete
D) Pete, but not Norm

(Table) Referring to the Payoff Matrix for Norm and Pete