Suppose felix and janet are playing a game in which both must simultaneously choose the action left or right. the payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. for example, the lower-right cell shows that if felix chooses right and janet chooses right, felix will receive a payoff of 7 and janet will receive a payoff of 4.
janet
left - right
felix - left - 2, 3 - 2, 4
right - 3, 7 - 4, 6
the only dominant strategy in this game is for (janet, felix) to choose (left, right)
the outcome reflecting the unique nash equilibrium in this game is as follows: felix chooses (left, right) and janet chooses (left, right) .

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.