The relationship between a pure-strategy Nash equilibrium and a dominant-strategy equilibrium is that
A) a dominant-strategy equilibrium is a special case of a pure-strategy Nash equilibrium.
B) a pure-strategy Nash equilibrium is a special case of a dominant-strategy equilibrium.
C) they are the same.
D) there may not be a dominant-strategy equilibrium, but there always is a pure-strategy Nash equilibrium.
E) they are mutually exclusive and exhaustive, in that a dominant-strategy equilibrium is the same thing as a mixed-strategy Nash equilibrium.
A
You might also like to view...
Assume that the supply curve for a commodity shifts to the left and the demand curve shifts to the right, both by the same degree. Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a lower price and the same quantity. B) the same price and quantity. C) a lower price and quantity. D) a higher price and the same quantity.
Assuming that money is neutral, an increase in the nominal money supply would cause
A) an excess supply for goods. B) an increase in the real money supply. C) a fall in the price level. D) a rise in nominal wages.
Which of the following serves to protect a monopoly structure?
a. appearance of close substitute goods b. creation of technologies that serve to break down barriers to entry c. continuing exclusive access to resources required to produce the good d. easier access to resources required to produce the good e. diseconomies of scale
Total benefits minus total cost equals:
A. gross benefit. B. marginal benefit. C. net benefit. D. incremental benefit.