A dominant strategy is one where one firm picks
A. a strategy that must be repeated.
B. the same strategy as the rival.
C. a strategy only after seeing the other firm's decision.
D. a strategy no matter what the rival does.
Answer: D
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Pam buys only thread and fabric, and she buys the quantities that maximize her utility. Her marginal utility from a spool of thread is 30 units and her marginal utility from a yard of fabric is 60 units
If the price of a spool of thread is $4, then you are sure that the price of a yard of fabric is ________. A) $4 B) $2 C) $8 D) $12
Demand-pull inflation is typically caused by rapidly rising costs of production
a. True b. False Indicate whether the statement is true or false
If you have a $50 co-pay, you must pay ____ for each doctor’s visit.
A. $50 B. $35 C. $25 D. None of the above is correct.
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases. B. initially decreases, then increases. C. decreases. D. initially increases, then decreases.