« previous next »

Author Question: Libertyville has two optometrists, Dr. Smith and Dr. Jones. Each optometrist can choose to advertise ... (Read 70 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
on: Jun 29, 2018
Libertyville has two optometrists, Dr. Smith and Dr. Jones. Each optometrist can choose to advertise his service or not. The incomes of each optometrist, in thousands of dollars, are given in the payoff matrix above.
 
  Which of the following statements CORRECTLY categorizes the Nash equilibrium for the game? A) The game has a Nash equilibrium in which both optometrists advertise.
  B) The game has a Nash equilibrium in which both optometrists do not advertise.
  C) The game has a Nash equilibrium in which Dr. Smith advertises and Dr. Jones does not advertise.
  D) The game has a Nash equilibrium in which Dr. Smith does not advertise and Dr. Jones does advertise.

Question 2

Firms in monopolistic competition make products that are
 
  A) perfect complements.
  B) close but not perfect complements.
  C) perfect substitutes.
  D) close but not perfect substitutes.


phuda

  • Sr. Member
  • ****
  • Posts: 348
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Sexual swellings are one way for females to advertise their mating availability, thereby inducing ma Sexual swellings are one way for females to advertise their mating availability, thereby inducing ma
Choose the telephone unit that offers the features needed in your office. Choose the telephone unit that offers the features needed in your office.
Phillip K. Smith III, Lucid Stead. Phillip K. Smith III, Lucid Stead.
How to choose the correct u and dv when you integrate by parts How to choose the correct u and dv when you integrate by parts
How to choose the right payment plan with changing conditions (Question 2) How to choose the right payment plan with changing conditions (Question 2)
How to choose the right payment plan with changing conditions (Question 4) How to choose the right payment plan with changing conditions (Question 4)
Video: Rh blood type and complications during pregnancy & Fertilization

For a complete list of videos, visit our video library