Question: Consider the following game. Does Player 1 have a dominant strategy? If so, what is it? Player 1 Player 2 Orange Yellow Orange 3,3 2,1

Consider the following game. Does Player 1 have a dominant strategy? If so, what is it? Player 1 Player 2 Orange Yellow Orange 3,3 2,1 Yellow 1,2 5,5 yes; orange yes; yello no, player 1 does not have a dominant strategyWhat are the three mistakes that consumers often make when making decisions? ignore non monetary opportunity costs unable to ignore sunk costs unable to ignore marginal costs unrealistic about future behaviors

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