Answer to Question #24284 in Economics of Enterprise for mohamed

Question

Question 3
Consider the following payoff matrix:
Player B Strategy
1 2
$1,000 -
$2,000
1 $ 2 , 000 -$1,000
Player A Strategy
-$1,000 $2,000
2 - $ 2 , 0 00 $1,000
a. Does Player A have a dominant strategy? Explain why or why not.
[3 marks]
b. Does Player B have a dominant strategy? Explain why or why not.
[3 marks]
[TOTAL: 6 MARKS