Solving for dominant strategies and the Nash equilibrium Suppose Clancy and Eileen are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Clancy chooses Right and Eileen chooses Right, Clancy will receive a payoff of 7 and Eileen will receive a payoff of 6. Eileen Left Right Clancy Left 4, 3 6, 4 Right 6, 7 7, 6

The only dominant strategy in this game is to choose.

The outcome reflecting the unique Nash equilibrium in this game is as follows:

Clancy chooses and Eileen chooses

What is the best definition of a conclusion?

Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). however, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due). what is the future value of a 13-year annuity of $2,800 per period where payments come at the beginning of each period? the interest rate is 9 percent. use appendix c for an approximate answer, but calculate your final answer using the formula and financial calculator methods. to find the future value of an annuity due when using the appendix tables, add 1 to n and subtract 1 from the tabular value. for example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent, go to appendix c for n = 6 and i = 10 percent. look up the value of 7.716 and subtract 1 from it for an answer of 6.716 or $671.60 ($100 × 6.716)

Why should managers invest any excess cash