On a Saturday night, Husband and Wife simultaneously decide where to go for dinner. The options are Vietnamese restaurant (V) or Thai restaurant (T). If both opt for V, the payoffs are (8, 8) to Husband and Wife, respectively. If both opt for T, the payoffs are (7, 5). If Husband chooses V and Wife chooses T, the payoffs are (3, 5). Finally, if Husband chooses T and Wife chooses to V, the payoffs are (5, 7). In the Nash equilibrium, Husband gets a payoff of

Consider two restaurants, R1 and R2, simultaneously decide what sort of cuisine they will focus on, Thai (T) or Vietnamese (V). If both opt for T, the payoffs are 10 each. If both opt for V, the payoffs are 20 each. If R1 plays T and R2 V the payoffs are (30, 40). If R1 plays V and R2 T, the payoffs are (50, 60) for R1 and R2, respectively. What are the Nash equilibria?Group of answer choices(V, V)(T, T)(T, T) and (V, V); this is a coordination game(T, V) and (V, T); this is a coordination game.None of the above.

Two restaurant proprietors, James and May, must simultaneously decide on the locations of their restaurants. The choices are on Pitt Street (P) or King Street (K). If both opt for P, the payoffs are (5, 4) to James and May, respectively. If both proprietors opt for K the payoffs are (7, 3). If James choose P and May chooses K, the payoffs are (10, 15). Finally, if James chooses K and May chooses P, the payoffs are (15, 8). The Nash equilibrium/equilibria is/are

Consider a market in which Aldi must choose whether to Enter (E) or Not Enter (NE). If Aldi chooses to Not Enter, its payoff is 10 and its rival Coles’ payoff is 20. If Aldi Enters this is observed by Coles, and Coles must choose either to Punish (P) or Accommodate (A). If following Entry by Aldi Coles Punishes the payoffs are 5 to Aldi and 10 to Coles. If following Entry by Aldi Coles Accommodates the payoffs are 12 to Aldi and 15 to Coles. What are the Nash equilibria of the game?Group of answer choices(NE, A)(E, P)(NE, P) and (E, A)(NE, P)(E, A)

On a Friday night, Husband and Wife simultaneously decide whether to Go Home or Work Late. If both opt to Go Home, the payoffs are (1, 3) to Husband and Wife, respectively. If both opt for Work Late, the payoffs are (5, 3). If Husband chooses to Go Home and Wife chooses to Work Late, the payoffs are (1, 5). Finally, if Husband chooses to Work Late and Wife chooses to Go Home, the payoffs are (5, 1). Choose ALL correct statements:Group of answer choicesHusband’s dominant strategy is to Work Late.The Nash equilibrium is (Work Late, Work Late); this is a prisoners’ dilemmaThe Nash equilibrium is (Work Late, Work Late); this is a dominant strategy equilibriumThe Nash equilibria are (Work Late, Work Late); (Go Home, Go Home); this is a coordination gameNone of the answers are correct.

Consider the following game represented in normal form. Terry and Kerry are roommates who must make decisions about cleaning. Terry’s payoff is the first number in each cell and a higher number is a better outcome. Assume that Terry makes his decision first, if so what is the Nash Equilibrium of this game:   Kerry  CleanDon’t cleanTerryClean( 8, 2 )( 3, 5 )Don’t clean( 10, 3 )( 4, 1 )Group of answer choicesTerry will clean and Kerry will not clean.Terry will not clean and Kerry will not clean.Terry will not clean and Kerry will clean.Terry will clean and Kerry will clean.More information is required to answer this question.