If everyone has a dominant strategy, there can be no mixed strategy equilibrium.
Answer the following statement true (T) or false (F)
True
Rationale: A dominant strategy is best regardless of what others do -- so one would never "mix" it with another strategy and have that mix be a best response to anything done by others.
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Aggregate expenditure includes spending on
A) C + I + G - NX. B) C + I + depreciation - NX. C) C + I + G. D) C + I + G + NX.
Which of the following is a depository institution?
A) a life insurance company B) a credit union C) a pension fund D) a mutual fund
How does an increase in income affect the market of bus rides (inferior good)?
a. The demand curve for bus rides to shift to the right b. The demand curve for bus rides to shift to the left c. The supply curve for bus rides to shift to the right d. The supply curve for bus rides to shift to the left
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.PriceQuantityTC$500$10.00$501$20.00$502$27.50$503$77.50$504$147.50$505$250.00According to the table shown, the firm's profit is:
A. maximized at 5 units of output. B. not maximized at any level of output given. C. maximized at 4 units of output. D. maximized at 3 units of output.