In a non-cooperative, imperfect information, simultaneous-choice, one-period game, a Nash equilibrium
A) will never exist.
B) will always include dominant strategies.
C) will always result in both players taking the same action.
D) may not maximize the sum of the firms' profits.
D
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The above table gives the initial balance sheet for Mega Bank. Barney comes into the bank and deposits $50 of currency into his checking account. The desired reserve ratio is 3 percent
After Barney's deposit, but before any other actions occur, MegaBank will have excess reserves of A) $15.00. B) $33.00. C) $48.50. D) $50.00.
Which of the following must be true in order to engage in advantageous international trade?
a. It must be producing at a point on its production possibilities frontier. b. It must be economically efficient. c. It must have a comparative advantage in producing one of the goods being traded. d. There must be no potential Pareto improvements available in the economy. e. It must have an absolute advantage in producing one good being traded.
A shift from S1 to S2 causes equilibrium price to __________ and quantity to __________.
A. rise; rise
B. fall; fall
C. rise; fall
D. fall; rise
If the price of cereal increases by 10 percent and the amount of milk demanded decreases by 2 percent, then the cross-price elasticity of these goods is:
A. - 0.2 B. 5. C. 0.2. D. - 5.