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Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying questions.
Strategy | C | D | E | F
Player 1 | A | 7,16 | 19,24 | 23,8 | 12,14
| B | 18,7 | 7,22 | 21,9 | 15,14
What is player 1's optimal strategy?
a. Strategy B.
b. Strategy A.
c. Player 1 does not have an optimal strategy.
Determine player 1's equilibrium payoff.