Answer the following statements true (T) or false (F)
1) The likelihood of a rival's announcement of a planned strategy being truthful depends on the degree to which it's interests align with its rivals.
2) It is not possible for a game to have no pure -strategy Nash equilibria.
3) Mixed strategies are inherently random.
4) A manager's optimal decision regarding their firm's strategy requires that the manager also considers their rival's best response.
5) Cheap talk is an example of a refinement.
1) TRUE
2) FALSE
3) TRUE
4) TRUE
5) FALSE
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Most of the change from 1980 to 1987 in U.S. net capital outflow as a percent of GDP was due to a(n)
a. decrease in U.S. investment. b. decrease in U.S. national saving. c. increase in U.S. investment. d. increase in U.S. national saving.
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.The game in the figure is shown using a:
A. decision matrix. B. flowchart. C. graph. D. decision tree.
The federal tax on cigarettes is
A. direct and regressive. B. direct and progressive. C. indirect and regressive. D. indirect and progressive.
The _______ demand for money is holding money in expectation that bond prices and the prices of other assets might change.
A) speculative B) exchange C) transactions D) precautionary