Refer to the payoff matrix below. The Set High Price/Set High Price outcome is the ________.
A) Nash Equilibrium
B) cooperative equilibrium
C) pure -strategy Nash Equilibrium
D) dominant strategy equilibrium
B) cooperative equilibrium
You might also like to view...
Suppose the Fed buys $1 billion worth of bonds and the required reserve ratio is 10%. In the theoretical limit, the money supply could
A) decrease by $1 billion. B) increase by $1 billion. C) decrease by $10 billion. D) increase by $10 billion.
Which of the following increases the demand for U.S. union labor?
A) an increase in the minimum wage B) an increase in the demand for imported goods C) new laws that ease immigration restrictions D) All of the above cause an increase in the demand for union labor.
If the exchange rate between the yen and the dollar changed from 100 yen = $1 to 110 yen = $1, then
a. the dollar depreciated b. U.S. goods will become less expensive to the Japanese c. the dollar appreciated d. Japanese goods will become more expensive to U.S. citizens e. the demand for dollars will increase
The United States six largest labor unions have at least _______ members each.
A. 250,000 B. 1.3 million C. 2.5 million D. 5 million