A strategy that is best for a player regardless of the strategy of the other player is called a(n)
a. subsistence strategy
b. determinant strategy
c. dominant strategy
d. independent strategy
e. autonomous strategy
C
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The social interest theory of regulation assumes that
A) regulations favor voters over producers. B) regulations promote the attainment of competitive output. C) public officials seek to keep their jobs. D) public officials favor consumers over producers.
Explain for each event whether it changes the quantity of real GDP supplied, short-run aggregate supply, long-run aggregate supply, or a combination of them
What will be an ideal response?
All else equal, in which oligopolistic market below would one expect the markup to be the smallest?
A. An oligopolistic market with inelastic demand and a very few firms B. An oligopolistic market with elastic demand and a very few firms C. An oligopolistic market with inelastic demand and a greater number of firms D. An oligopolistic market with elastic demand and a greater number of firms
In the United States, when the outflow of dollars to pay for our imports of goods from Japan exceeds the inflow of dollars earned by our exports to Japan, typically
a. the dollar appreciates b. the United States can buy back some of its assets that are held by the Japanese c. this is merely a statistical discrepancy because the trade with Japan (exports and imports) must net out to zero d. the United States can use its reserves of yen to cover the difference e. the Japanese can borrow the needed dollars through the foreign exchange market