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Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying questions. a. What is player 1’s optimal strategy? Why? b. Determine player 1’s equilibrium payoff.
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- give me correct answer with proper explanation A network effect, or network externality, exists when: Group of answer choices a firm ’ s average total cost rises continuously over the entire ran the customers of one business overlap with those of another competing business. the costs of resources for an industry rises as the number of sellers in an industry expands. the value of a product or service to each consumer increases as the number of users expands.Question on game theoryWhen an interest group representing teachers lobbies a state legislature for an increase in retirement benefits, it is seeking to provide its members with benefits.
