Mark and Bevis play a static game. Mark chooses x and Bevis chooses y. Mark's payoff is 16 - (x-v)2, and Bevis payoff is 16 - (x -0.5)2- (v-0.5)2. Then O a. both Mark and Bevis have dominant strategies b. Mark has a dominant strategy, but Bevis does not O. Bevis has a dominant strategy, but Mark does not O d. neither Mark or Bevis have dominant strategies

Principles of Microeconomics (MindTap Course List)
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Chapter17: Oligopoly
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Mark and Bevis play a static game. Mark chooses x and Bevis chooses y. Mark's payoff is 16 - (x- y)2, and Bevis' payoff is 16 - (x-0.5)2 - (y-0.5)2. Then
O a. both Mark and Bevis have dominant strategies
O b. Mark has a dominant strategy, but Bevis does not
O c. Bevis has a dominant strategy, but Mark does not
O d. neither Mark or Bevis have dominant strategies
Transcribed Image Text:Mark and Bevis play a static game. Mark chooses x and Bevis chooses y. Mark's payoff is 16 - (x- y)2, and Bevis' payoff is 16 - (x-0.5)2 - (y-0.5)2. Then O a. both Mark and Bevis have dominant strategies O b. Mark has a dominant strategy, but Bevis does not O c. Bevis has a dominant strategy, but Mark does not O d. neither Mark or Bevis have dominant strategies
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