Question

Two dentists, Lydia Russell and Jerry Carlton, are planning to establish practices in a newly developed community. Both have allocated approximately the same total budget for advertising in the local newspaper and for the distribution of fliers announcing their practices. Because of the location of their offices, Russell is expected to get 43% of the business if both dentist advertise only in the local newspaper; if both dentist advertise through fliers, then Russell is expected to get 42% of the business; if Russell advertises exclusively in the local newspaper and Carlton advertises exclusively through fliers, then Russell is expected to get 56% of the business. Finally, if Russell advertises through fliers exclusively and Carlton advertises exclusively in the local newspaper, then Russell is expected to get 51% of the business.(a) Construct the payoff matrix for the game. (Enter each percentage as a decimal.)

		Carlton
		N                 F
Russell	N F

Is the game strictly determined?

YesNo    

(b) Find the optimal strategy for both Russell (row) and Carlton (column). (Round your answers to three decimal places.)

P

=

Q

=

Answer 1

Let me know in the comment section if anything is not clear. I will reply ASAP!
If you liked the answer, please give an upvote. This will be quite encouraging for me.Thank-you!