A payoff matrix
A) shows the payoffs (i.e. bribes) required to government officials for firms undertaking specific actions.
B) details the actions each firm takes.
C) shows the payoffs to each firm for each possible outcome.
D) is optional in game theory.
C
You might also like to view...
An example of moral hazard is
a. people drive as carefully in icy conditions with antilock brakes as without b. people drive as safely with more airbags as without c. football players avoid 'spearing' with their heads even with safer helmets d. people fail to read the medicine warnings more often when self-medicating versus with a doctor's prescription
If incomes rose proportionately with prices, then in the absence of taxes
a) money would cease to be a veil b) real GDP would increase c) everyone would be worse off d) prices would have no effect on output or well-being e) resources would be over allocated to the present at the expense of future generations
Who is not counted in the U.S. labor force?
A. a person working at least one hour for pay per week B. a full-time college student C. a 70-year-old person who supplements his Social Security payments by working eight hours each week at the minimum wage D. someone actively looking for a job E. a person working 15 hours a week or more, not for pay
Which economic system is usually associated with government ownership of the means of production and central planning?
A. Communism B. A market system C. Fascism D. Capitalism