If they play the true Jeopardy game it will be a question of which of the two is more intelligent!
extract: During the game, three competing contestants select clues from a game board of 30 clues divided into six categories, each clue in the form of an answer to which they must supply correct responses, each response in the form of a question. The notion of "questioning answers" is original to Jeopardy!
It can be played by two because one of the three gets knocked out and the two remaining carry on playing!