What is the primary difference between a mixed strategy and a pure strategy?
A) Pure strategies are always dominated strategies.
B) Mixed strategies call for randomizing over possible actions, pure strategies do not.
C) Pure strategies are much more common than mixed strategies.
D) Mixed strategies are not optimal whereas pure strategies are.
B
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According to the theory of purchasing power parity, if the inflation rate in England is greater than the inflation rate in Japan,
A) the law of one price has been violated. B) the nominal value of the pound will appreciate against the yen. C) the nominal value of the yen will appreciate against the pound. D) the nominal value of the pound will appreciate against the yen, but only if the two countries are on the gold standard.
During a period of economic depression, such as has existed for a long period in Japan, a profit-oriented bank will act in such a way that
a. dampens the fluctuations. b. makes the depression worse. c. is neutral with respect to the fluctuations. d. is counter-cyclical and stabilizing.
Limit pricing will effectively deter entry when:
A. the incumbent links the pre-entry price to post-entry profits. B. the entrant must commit to enter the market. C. the incumbent has incomplete information. D. All of the statements associated with this question are correct.
In a two-dimensional graph showing the relationship between income and consumption in the economy, what is shown on the vertical axis and what is shown on the horizontal axis?
Please provide the best answer for the statement.