Commitment strategies:
A. are not necessary to reach a mutually beneficial equilibrium in repeated games.
B. are always needed to reach a mutually beneficial equilibrium in single-round games.
C. usually fail to work.
D. are not observed in reality.
A. are not necessary to reach a mutually beneficial equilibrium in repeated games.
You might also like to view...
The main disadvantage of using money as a store of value is that:
A. other assets pay relatively higher rates of interest than money. B. other assets provide greater anonymity than cash. C. barter is a more efficient way to conduct transactions than using money. D. unlike other assets, money serves as a medium of exchange.
Suppose Ernie gives up his job as financial advisor for P.E.T.S., at which he earned $30,000 per year, to open up a store selling spot remover to Dalmatians. He invested $10,000 in the store, which had been in savings earning 5 percent interest. This year's revenues in the new business were $50,000 . and explicit costs were $10,000 . Calculate Ernie's economic profit
a. $10,000 b. $50,000 c. $20,000 d. $40,000 e. $9,500
Which of the following must be true?
a. Savings must equal investment in an open economy. b. Savings must equal investment in a closed economy. c. Savings must equal consumption in an open economy. d. Savings must equal consumption in a closed economy.
Ownership is a legal "rule of the game" that establishes
What will be an ideal response?