ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
In game theory , what does the term "payoff" refer to?
a) The amount of money each player has at the beginning of the game.
b) The final outcome of the game.
c) The utility or benefit that a player receives based on the outcome of the game.
d) The number of strategies available to each player.
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