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Author Question: Which of the following defines the Nash equilibrium? (Read 31 times)

cool

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on: May 25, 2020

Question 1

A dominant strategy, as seen by a firm, is one that is
◦ decided by the firm itself, because it is dominant in the industry.
◦ legally imposed by the government or a regulator.
◦ decided by a dominant firm.
◦ always chosen.

Question 2

Which of the following defines the Nash equilibrium?
◦ Where neither firm is able to earn supernormal profits
◦ Where two or more firms (or people) by attempting independently to choose the best strategy for whatever the other(s) are likely to do end up in a worse position than if they had co-operated in the first place
◦ Where the outputs chosen by each firm are consistent with each other
◦ The position resulting from everyone making their optimal decision based on their assumptions about their rivals' decisions
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by cool on May 25, 2020

LegendaryAnswers

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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cool

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Reply 2 on: May 25, 2020
:D TYSM

nanny

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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