Of the five game types described in this chapter (prisoner's dilemma, pure coordination, assurance, battle of the sexes, chicken), which have a dominant strategy and which have more than one Nash equilibrium in a two-player game?
What will be an ideal response?
Of the five game types, only the prisoner's dilemma has a dominant strategy, and all but the prisoner's dilemma have two Nash equilibria in a two-player game, whereas the prisoner's dilemma only has one Nash equilibrium.
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The quantity theory asserts that real GDP is
A) not influenced by the quantity of money. B) never different from potential GDP. C) equal to nominal GDP multiplied by the quantity of money. D) equal to nominal GDP divided by the quantity of money.
The Depository Institutions Deregulation and Monetary Control Act of 1980 did not
a. require all commercial banks to join the Federal Reserve System. b. expand the use of Fed services to nonmember banks. c. increase FDIC and FSLIC insurance coverage. d. expand the availability of checking accounts.
The formula for total fixed cost is
A) TFC = TC + TVC. B) TFC = TVC - TC. C) TFC = TC/TVC. D) TFC = TC - TVC.
Net taxes equal the amount that the:
A. business sector pays the government minus the amount the private sector pays the government. B. private sector pays the government minus the amount the private sector receives from the government. C. government pays the private sector plus the amount of private sector pays the government. D. government pays the private sector minus the amount the private sector pays the government.