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There is only one Nash equilibrium
There is only one Nash equilibrium. (2) There are multiple Nash equilibria. (3) Only one player has a dominant strategy. (4) Both players have a dominant strategy 23. Consider the following game. The left and right numbers are the payoffs of Firm 1 and 2, respectively. Which of the following lists all the Nash equilibria in this game? Firm 2 Firm 1 Low High Low -20-30 900,600 High 100.800 50,50 6 (1) Low-Hich (2) Law-High and Low-Law (3) Law-Higland High-Low 21. The following me down the riche policies of US and lapar. The
Expert Solution
The answer is c.
If firm 1 chooses to be low then firm 2 would definitely go for high because his payoff is more for high (600) then low (-30) .
Similarly, if firm 1 chooses high then firm 2 would choose low as 800 > 20.
Now, if firm 2 choosed low then firm 1 would choose high. And iff firm 2 would choose high then firm 1 would choose low.
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