The concept of Nash Equilibrium:
A. has wide applicability.
B. is limited in its applicability to economic behavior because firms do not follow their dominant strategies.
C. is limited in its applicability to economic behavior because firms generally follow their dominant strategies.
D. has been disproven by modern economists.
Answer: A
You might also like to view...
The economic goal most often deemed in direct competition with full employment is balancing the trade deficit
Indicate whether the statement is true or false
Which of the following statements best describes the concept of consumer surplus?
A) "I paid $89 for a microwave oven last week. This week the same store is selling the same microwave oven for $69." B) "I sold my hard copy of Harry Potter and the Half-Blood Prince to a used book store for $10 even though I was willing to sell it for $5." C) "Target was having a sale on tube socks so I bought 5 pairs." D) "I was going to pay $200 for new sunglasses that I had seen at the Oakley store but I ended up paying only $140 for the same sunglasses."
In the short run, how is the interest rate determined? If the interest rate is less than the equilibrium interest rate, what occurs?
What will be an ideal response?
The marginal propensity to save is defined as:
A) ?C/?Yd. B) ?S/?Yd. C) ?Yd/?C. D) ?Yd/?S.