The following matrix represents the payoffs to two producers, each making a strategic choice either to keep the output at 5 units or at 10 units.

-Refer to Table .The matrix shown in this table is known as the:
A)matrix of choices.
B)matrix of strategies.
C)normal form of the game.
D)advanced form of the game.

Question

The following matrix represents the payoffs to two producers, each making a strategic choice either to keep the output at 5 units or at 10 units.

-Refer to Table .The matrix shown in this table is known as the:
A)matrix of choices. 
B)matrix of strategies. 
C)normal form of the game. 
D)advanced form of the game.

Quizplus · Accepted Answer

The matrix shown in the table is referred to as the "normal form of the game" in game theory, which represents the strategies and payoffs available to players in a strategic game.

The Following Matrix Represents the Payoffs to Two Producers, Each