A payoff matrix shows the ________.
A) various combinations of inputs required to produce a good
B) return from each action that players can take in a game
C) different combinations of two goods that can be bought with a given income
D) payments made to the owners of each factor of production for the production of a good

Question

Quizplus · Accepted Answer

A payoff matrix shows the return (or payoffs) from each action that players can take in a game. It is a tool used in game theory to analyze and predict the outcomes of strategic interactions between players. The best choice(s) in a game can be determined by analyzing the payoffs for each option and selecting the one that yields the highest payoff.

A Payoff Matrix Shows the ________