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If two professional athletes take steroids, they each earn a lifetime income (net of health costs) of $3 million. If the two athletes abstain from steroids, they each earn a lifetime income of $4 million. If one athlete takes steroids, but the other does not, the steroid user gains a competitive advantage and earns a lifetime income of $6 million and the non-steroid user earns $1 million.

a. Construct the payoff table for the two professional athletes.
b. What is the dominant strategy for both athletes?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M942833

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