6 48 6 60 12 7 57 9 70 13 8 68 11 80 12 marginal revenue is the price of $10, you will serve customers up to the point where MC > MR or you will serve 7 customers. 2. Nash Equilibrium (8 pts) a) Given the following payoff matrix, what is the Nash Equilibrium? (circle the correct box) Joe YELLOW Joe makes $40 Joe makes $80 GREEN Sally makes $20 makes $60 Sally Joe makes $90 Joe makes $100 YELLOW Sally makes $30 Sally makes $40 Answer a): Nash equilibrium identified: Joe GREEN YELLOW
6 48 6 60 12 7 57 9 70 13 8 68 11 80 12 marginal revenue is the price of $10, you will serve customers up to the point where MC > MR or you will serve 7 customers. 2. Nash Equilibrium (8 pts) a) Given the following payoff matrix, what is the Nash Equilibrium? (circle the correct box) Joe YELLOW Sally GREEN Joe makes $40 Sally makes $20 Joe makes $80 makes $60 YELLOW Joe makes $90 Sally makes $30 Joe makes $100 Sally makes $40 Answer a): Nash equilibrium identified: Joe GREEN YELLOW