A strategy in which a player uses probabilities to decide which strategy to use is called a
A) pure strategy.
B) mixed strategy.
C) Pareto strategy.
D) coin flip strategy.
B
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Economic growth is defined as equal to the increase in
A) real GDP. B) population. C) the price level. D) the inflation rate. E) employment.
When there is a positive externality in a free market, too much of the good is produced and consumed
Indicate whether the statement is true or false
The simple accelerator theory suggests that investment will be rising when
A) output is rising. B) the growth of output is rising. C) output is high. D) the growth of output is high.
As price increases along a downsloping linear demand curve:
A. price elasticity of demand decreases. B. price elasticity of demand increases. C. price elasticity of demand does not change. D. the behavior of price elasticity of demand cannot be determined.