What is true about the following payoff matrix? A: cooperateA: not cooperateB: cooperateA: 2, B: 2A: 5, B: 5B: do not cooperateA: 3, B: 1A: 0, B: 0
A. Only player A has a dominant strategy.
B. Only player B has a dominant strategy.
C. Both player A and player B have dominant strategies.
D. Neither player A nor player B has a dominant strategy.
Answer: B
You might also like to view...
Based on the figure below. Starting from long-run equilibrium at point C, a favorable inflation shock that decreases inflation from ? to ?1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. A; a recessionary B. B; recessionary C. B; expansionary D. A; an expansionary
Table 14.3Monetary Aggregates of the U.S. Financial SystemItemAmountCash held by public$40 billionTransactions deposits$80 billionRequired reserves$20 billionExcess reserves$0 billionU.S. bonds held by public$125 billionAssume an original balance sheet: On the basis of the information in Table 14.3, the required reserve ratio is
A. 25 percent. B. 15 percent. C. 5 percent. D. 20 percent.
Fill in the blank: According to your textbook authors, ________ is a key condition for competition to occur
A) government regulation of price B) government regulation of output C) preservation of profit D) freedom of entry
If both firms in a duopoly cheat on a collusive agreement, the price ________ and both firms are ________
A) falls; better off B) rises; worse off C) falls; worse off D) rises; better off