Answer the following statement true (T) or false (F)

1) If one player in a game has a dominant strategy, the other player must also have a dominant strategy.
2) A player is said to have a dominant strategy when one of the options available is superior,
regardless of what strategy the other player chooses.
3) If neither player has an incentive to deviate from the outcome of a game, the outcome is a
Nash equilibrium.
4) A Nash equilibrium can only occur in repeated games.
5) One characteristic of sequential games is that they all have first-mover advantages.


1) F
2) T
3) T
4) F
5) F

Economics

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