(b) (і)Explain the concept of dominance in Game Theory, and discuss how it can be used in the solvingof games.(ii)The zero-sum game below involves two players, each having two strategies. Solve the game,giving your answer as an outcome for Player X.Y1Y2Y3XI-507010X220-1010

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(b) (i) Explain the concept of dominance in Game Theory, and discuss how it can be used in the solving of games.

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Chapter1: Making Economics Decisions

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Question

(b) (і)
Explain the concept of dominance in Game Theory, and discuss how it can be used in the solving
of games.
(ii)
The zero-sum game below involves two players, each having two strategies. Solve the game,
giving your answer as an outcome for Player X.
Y1
Y2
Y3
XI
-50
70
10
X2
20
-10
10

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