When one strategy is always the best for a player to choose, regardless of what other players do, it is called:
A. collusion.
B. the prisoner's dilemma.
C. a Nash equilibrium.
D. a dominant strategy.
Answer: D
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When the economy has substantial additional saving, deficit spending will have a large "crowding out" effect
a. True b. False Indicate whether the statement is true or false
When competition is present and private ownership rights are clearly defined and securely enforced,
What will be an ideal response?
A business owner makes 50 items by hand in six hours. She could have earned $10 an hour working for someone else. If each item sells for $5 and the explicit costs total $14, accounting profit for 50 items is:
A. $74. B. $236. C. $176. D. $300.
Refer to the data. Diminishing returns begin to occur with the hiring of the _________ unit of labor
Use the following data to answer the question:
A. first
B. second
C. third
D. seventh