Refer to Game Matrix V. Which of the following values of X and Y result in there being no pure strategy Nash Equilibrium?
a. X = 21, Y = 9.
b. X = 19, Y = 11.
c. X = 31, Y = 11.
d. There will always be at least one pure strategy Nash Equilibrium in this game.
a. X = 21, Y = 9.
You might also like to view...
Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Mega cheats on the agreement by reducing its price to $1 and Acme matches the price cut, then if consumers are evenly split between the two firms, Acme's economic profit will be ________.
A. $100 B. $75 C. $150 D. $200
The price elasticity of demand for movies is approximately 1 and 500,000 tickets are sold per day. If the average price of a movie ticket increases by 20 percent, the number of tickets sold each day decreases to ________
A) 400,000 B) 300,000 C) 420,000 D) 475,000
One of the determinants of real GDP is output per hour of labor. This statistic is called labor
a. force growth. b. productivity. c. force participation. d. force input.
Refer to the figure below. Private incentives in this market generate deadweight loss equal to ________.
A. ½ × UW × LM B. ½ × VW × KM C. ½ × UV × LN D. ½ × VW × LN