Refer to the table below to answer the following questions.
Table 14.2.8
-Refer to Table 14.2.8.Libertyville has two optometrists,Dr.Smith and Dr.Jones.Each optometrist can choose to advertise his service or not.The incomes of each optometrist,in thousands of dollars,are given in the payoff matrix above.Which of the following statements correctly describes Dr.Smith's strategy given what Dr.Jones may do?
A)Dr.Smith advertises no matter what Dr.Jones does.
B)Dr.Smith does not advertise no matter what Dr.Jones does.
C)Dr.Smith advertises only if Dr.Jones doesn't advertise.
D)Dr.Smith advertises only if Dr.Jones advertises.
E)Dr.Smith does not advertise if Dr.Jones advertises.

Question

Refer to the table below to answer the following questions.
Table 14.2.8 
-Refer to Table 14.2.8.Libertyville has two optometrists,Dr.Smith and Dr.Jones.Each optometrist can choose to advertise his service or not.The incomes of each optometrist,in thousands of dollars,are given in the payoff matrix above.Which of the following statements correctly describes Dr.Smith's strategy given what Dr.Jones may do?
A)Dr.Smith advertises no matter what Dr.Jones does. 
B)Dr.Smith does not advertise no matter what Dr.Jones does. 
C)Dr.Smith advertises only if Dr.Jones doesn't advertise. 
D)Dr.Smith advertises only if Dr.Jones advertises. 
E)Dr.Smith does not advertise if Dr.Jones advertises.

Quizplus · Accepted Answer

Dr. Smith's best strategy is to advertise regardless of Dr. Jones's actions because advertising always results in a higher income for Dr. Smith compared to not advertising, regardless of what Dr. Jones decides to do.

Refer to the Table Below to Answer the Following Questions