A maximin strategy
A) maximizes the minimum gain that can be earned.
B) maximizes the gain of one player, but minimizes the gain of the opponent.
C) minimizes the maximum gain that can be earned.
D) involves a random choice between two strategies, one which maximizes potential gain and one which minimizes potential loss.
A
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Legal ceilings on the rate of interest charged to individuals
A) guarantee credit is allocated according to need rather than ability to pay. B) make it easier for people with poor credit ratings to obtain loans. C) reduce the probability corporations will obtain scarce credit by bidding funds away from consumers. D) accomplish all of the above. E) accomplish none of the above.
In the period 1950-2011, the inflation rate in the U.S. CPI has
A) varied very little. B) been less variable than the inflation rate in the GDP price deflator. C) been more variable than the inflation rate in the GDP price deflator. D) been substantially equal to the inflation rate in the GDP price deflator every year.
The money wage rate has little effect on the supply curve. It mainly affects the aggregate demand curve
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of an externality?
a. A paper mill dumps waste into the river. b. A neighbor's loud music disrupts sleep. c. A drunk driver causes an accident that injures another person. d. All of the above are correct.