Ali and Bilal are two neighboring farmers. Ali must decide whether to grow rice or cotton in this Kharif season, whereas Bilal must decide between rice, cotton, and maize. Their payoff matrix is given below. Based on the given information, read the following statements and select the correct one.
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Question

Ali and Bilal are two neighboring farmers. Ali must decide whether to grow rice or cotton in this Kharif season, whereas Bilal must decide between rice, cotton, and maize. Their payoff matrix is given below. Based on the given information, read the following statements and select the correct one.

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Answer

Bilal will never cultivate Maize.

Answer

Bilal’s dominant strategy is to grow rice.

Answer

The Nash equilibrium is (Rice, Rice), i.e., both players grow Rice.

Answer

Ali should grow Rice regardless of what Bilal cultivates.

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Ali and Bilal are two neighboring farmers. Ali must decide whether to grow rice ...

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