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Consider a 2 × 2 two-player zero-sum game in which the possible outcomes for Player 1 are win (payoff = 1) or lose (payoff = -1). The win probabilities corresponding to each of the four action pairs are UL : 1/3 UR : 2/3 DL : 3/4 DR : 1/4 a) (2 points) Write the normal form of this game, using player 1’s expected payoffs.
up -1/3 ur 1/3
dl1/2 dr -1/2
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What is the economic profit/loss associated with this order if you proceed? Should you proceed or back out of this transaction?
q1. mexico does not have an absolute advantage in producing sugar over all of the other sugar producing countries. does
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