Please answer the following questions correctly thank you! Please answer the fol
ID: 1116059 • Letter: P
Question
Please answer the following questions correctly thank you! Please answer the following questions correctly thank you! akeQuiz&quiz; probGuid-QNAPCOA801 010000003cc724100500008ck-m 1511979735764 0AAA680401SEB9FC49618F830000 Consider a game with two players: Sony and Microsoft. Each firm can adopt distinct strategies in an attempt to win the latest episode of the "console wars. The article problems console. describes the actual strategy adopted by each firm; in the that follow, you will consider the possible strategies each firm could have chosen before unveiling its the following strategies. Sony can choose to offer a basic model (with low production costs) or a model with higher production costs). For Microsoft, assume that it can choose to offer a low price model or a high price model (with more features, including an HD DVD player, which was, at the time, a riv ray players). Assurmie ti bconsumer didn't waol to wait until the market established a standard DVD format. rs in the market were eager to have the new generation of vide gane technology, so they Consider the payof matrix below. Note: The first and the second number represents the payoff to the column player, Microsoft. number in each cell represents the payoff to the row player, Sony, Microsoft Low Price 110, 0 High Price 20, 20 Blu-ray PS3 Sony Basic PS3 30, 30 -30, 90 A Nash equilbrium occurs when each firm chooses a strategy and neither firm can benefit by changing its strategy given the strategy selected by the other player. Using the payoff matrix, which of the following outcomes is equilibrium in this game? the Nash O Basic PS3, low price O Blu-ray PS3, high price O Blu-ray PS3, low price O Basic PS3, high price O There is more than one Nash equilibrium A dominant strategy is a strategy that yields a higher payoff to a player, regardless of the strategy selected by the other player. In this scenario, a dominant strategy A prisoners' dilemma is a game in which players would benefit from cooperation. That is, by cooperating, both players could achieve a better outcome than they do by relying on individual, non-cooperative strategies True or False: This game is a prisoners' dilemma. O False TrueExplanation / Answer
there is more than two nash equilibrium 1) Basic PS3, Low price (30,30) and 2) Blu-ray PS3, High Price (20,20) where both will be benefited.
Sony is playing dominant strategy.
True, this game is a prisoners dilemma,
Nash equilibrium is Basic PS3, Low price (40,40) where both will be benefited.
False, this game is not prisoners'dilemma.
Nash Equilibrium is Basic PS3, High Price (60,60)