Question: need answer and explain , ASAP Refer to the following payoff matrix, where Strategies (S) refer to the moves that you may make and Competitive

need answer and explain , need answer and explain , ASAP Refer to the ASAP

Refer to the following payoff matrix, where Strategies (S) refer to the moves that you may make and Competitive Actions (CA) refer to the moves that your competitor may make. Parentheses denote a loss. Competitive Actions 1 2 $500 $300 $700 $100 $200 $600 Strategies Which strategy should be selected if you were to use: a. The maximax criterion? b. The maximin criterion? c. The minimax criterion

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