1. A game has two players and each has two strategies. The strategies are Be Nice and Be Mean. If both players play Be Nice, both get a payoff of 5. If both players play Be Mean, both get a payoff of 23. If one player plays Be Nice and the other plays Be Mean, the player who played Be Nice gets 0 and the other player who played Be Mean gets 10. Playing Be Mean is a dominant strategy for both players.

True

False

2. The situation where everyone is playing a dominant strategy must be a Nash equilibrium.

True

False

3. In a game, every dominant strategy will be part of Nash equilibrium, and every Nash equilibrium has dominant strategies.

True

False

4. In a Nash equilibrium, everyone must be playing a dominant strategy.

True

False

Answer rating: 100% (QA)

1 The payoff matrix is framed below Be nice Be mean Be nice 55 p2 p1 Be mean 100 010 2323 ... View the full answer