What is true about the following payoff matrix? A: not cooperateA: cooperateB: do not cooperateA: 2, B: 2A: 1, B: 3B: cooperateA: 3, B: 1A: 0, B: 0
A. Only player A has a dominant strategy.
B. Only player B has a dominant strategy.
C. Both player A and player B have dominant strategies.
D. Neither player A nor player B has a dominant strategy.
Answer: C
You might also like to view...
How does a decrease in the price of one good affect a consumer's budget constraint? How is the effect different from a decrease in the consumer's income?
What will be an ideal response?
Marginal fixed costs decrease as output increases.
Answer the following statement true (T) or false (F)
To construct a graph that would enable us to find equilibrium GDP, we would need to plot
a. the consumption-income line b. a line showing the sum of consumption and investment at each income level c. the investment spending line d. the consumption-income line and the government expenditures line e. an aggregate expenditure line and the 45-degree line from the origin
When is an individual's labor supply curve most likely to be backward bending?
a. When substitution effects are large. b. When income effects are large. c. When wages are relatively low. d. When nonlabor income is low.