Refer to the payoff matrix below.Player 1Player 2??t1t2t3?S120,015,15,-100?S220,20010,05,-50Which of the following pairs of strategies constitutes a Nash equilibrium of the game?

A. S1, t2 and S2, t1
B. S1, t1
C. S1, t2
D. S2, t1


Answer: A

Economics

You might also like to view...

When many substitutes exist for a good, demand will be

A) elastic. B) unit-elastic. C) inelastic. D) perfectly unit-elastic.

Economics

For an oligopoly, when the quantity effect outweighs the price effect, firms may have the incentive to:

A. increase output. B. decrease output. C. not change the level of output. D. leave the industry.

Economics

A horizontal line has a slope of 0

a. True b. False Indicate whether the statement is true or false

Economics

This graph represents the cost and revenue curves of a firm in a perfectly competitive market.According to the graph shown, what is the market price?

A. P1 B. P2 C. P3 D. Cannot tell from the graph.

Economics