Consider the following game played by 80 people. S = {4, 5, 6, ..., 125}. Payoffs...

  

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Consider the following game played by 80 people. S₁ = {4, 5, 6, ..., 125}. Payoffs are as follows. U₁ (8₁, 8-i) = - 500 m 0 (a) Describe B₁. Explain. (b) Find R₁. Explain. 80 8j if s, is closest to [1 Si 80 otherwise 9 where m denotes the number of players who are closest to 80 80 4 Consider the following game played by 80 people. S₁ = {4, 5, 6, ..., 125}. Payoffs are as follows. U₁ (8₁, 8-i) = - 500 m 0 (a) Describe B₁. Explain. (b) Find R₁. Explain. 80 8j if s, is closest to [1 Si 80 otherwise 9 where m denotes the number of players who are closest to 80 80 4

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Okay let me solve this stepbystep a This is a game where each of the 80 players chooses a number fro... View the full answer