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What is the Nash equilibrium of game

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Joe and Jerry are the only two-hot dog vendors on the beach each summer. Each summer, they must decide where to locate on the mile-long beach. They have three choices of locations: at the beginning, middle, and end. The game is a zero-sum game because Joe and Jerry are competing for percentage of sales of hot dogs on the beach.

a. Derive a payoff matrix that will reflect the payoffs (in terms of percentage of sales) for Joe and Jerry.

b. Does either Joe or Jerry have a dominant strategy? If so, what is it?

c. What is the Nash equilibrium of this game?

Reference no: EM133268481

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