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Intermediate micro economics
Chris and Forrest plan to meet for lunch and Forrest’s phone is dead. Masi they much decide where to go without communicating with one another. If they both end up at the same restaurant, they each get 10 tails. If-Chris goes to Blaze pina and Forrest goes to jimmy Johns, they both get 6 utils. It Chris goes to jimmy Johns and Forrest goes to Blaze pizza, Chris gets 6 utils and Forrest gets 12 utils .
a) Draw the game matrix that represents the scenario described above.
b) Find all Dominant Strategy Solutions, IESDS Solutions, and Pure Strategy Nash Equilibrium .
c) Scenario 2: Now, assume that Chris considers going to Chipotle as well, but Forrest does not. If Chris goes to Chipotle and Forrest goes to Blaze, they both get 7 utils. If Chris goes to Chipotle and Forrest goes to Jimmy Johns, Chris gets 8 utils and Forrest gets 10. Draw the new game matrix, assuming all prior payoffs are the same.
d) Find all Dominant Strategy Solutions, IESDS Solutions, and Pure Strategy Nash Equilibrium for Scenario 2 .
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