When all players in a game choose the best strategy they can, given the choices of all other players, it is always a:
A. Nash equilibrium.
B. positive-positive outcome.
C. negative-negative equilibrium.
D. cooperative equilibrium.
Answer: A
You might also like to view...
If a profit-maximizing firm is a price taker in the input market but not in the output market, its marginal value product of labor
a. exceeds the marginal revenue product of labor. b. equals its marginal revenue product of labor. c. is less than the marginal revenue product of labor. d. equals the marginal physical product of labor.
Which of the following would be an example of a public good?
A. A candy bar. B. A painting by Monet. C. A taxi cab. D. A sunset.
Standard Census data on the distribution of income:
A. take all taxes and transfer payments into account. B. are before taxes in that they do not account for personal income and payroll taxes. C. include noncash transfers. D. exclude cash transfers.
What is a mortgage? What were the important developments in the mortgage market during the years after 1970?
What will be an ideal response?