The above figure shows a payoff matrix for two firms, A and B, that must choose between a high-price strategy and a low-price strategy. Both firms setting a high price is not a Nash equilibrium because
A) setting a high price is the dominant strategy for each firm.
B) neither firm can improve its payoff by setting a low price given that the other firm is setting a high price.
C) there is no dominant strategy for either firm.
D) both firms can improve their payoff by setting a low price given that the other firm is setting a high price.
D
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Which of the following is most likely to help the residents of a nation produce more goods and services and achieve higher income levels
What will be an ideal response?
Which of the following will most likely increase aggregate demand?
A. a decrease in stock market prices B. an increase in business investment spending C. a decrease in the expected inflation rate D. a decrease in real GDP
Figure 4.5 illustrates a set of supply and demand curves for hamburgers. A decrease in supply and a decrease in demand are represented by a movement from:
A. point c to point a. B. point b to point d. C. point d to point a. D. point a to point b.
The euro, as a common currency, was in use in the financial market only between ________.
A. 2000 and 2010 B. 2000 and 2005 C. 1999 and 2010 D. 1999 and 2001