In a two-player simultaneous game, if player A has a dominant strategy and player B does not, player B will
A) employ a mixed strategy.
B) choose his best strategy assuming that player A plays her dominant strategy.
C) not achieve a Nash equilibrium.
D) assume that player A does not choose her dominant strategy.
B
You might also like to view...
Ignoring any supply-side effects, if government expenditure on goods and services decrease by $10 billion and taxes decrease by $10 billion, then real GDP ________ and the price level ________
A) increases; falls B) decreases; falls C) does not change; does not change D) increases; rises E) decreases; rises
Suppose a man and a woman are in love and care for the other's happiness as well as their own consumption. Suppose the woman is more selfish than the woman UM = CM1/2 UW1/2 UW = CW2/3 UM1/3 They will maximize the joint happiness (UM + UW) where
a. CM = 100; CW = 0 b. CW = 100; CM = 100 c. 50 < CM < 100; 0 < CW < 50 d. 50 < CW < 100; 0 < CM < 50
Which of the following factors is not a major cause of long-term economic growth?
a. Government-defined property rights for individuals b. A stable, fair, and predictable political environment c. Expansionary fiscal policy (i.e., lower taxes and higher government spending) d. Competitive markets e. Free movement of goods, services, capital, and labor
Marginal cost:
a) is always less than price. b) is the minimum price a producer to cause him to offer one more unit of a good for sale. c) decreases as more is produced. d) may be negative. e) is greater than price