This topic contains a solution. Click here to go to the answer

Author Question: Consider the following output-choice game for two firms: Firm 2 - low Firm 2 - medium Firm 2 - ... (Read 164 times)

jayhills49

  • Hero Member
  • *****
  • Posts: 559
Consider the following output-choice game for two firms:
 
  Firm 2 - low Firm 2 - medium Firm 2 - high
  Firm 1 - low 150, 150 100, 160 75, 100
  Firm 1 - medium 160, 100 110, 110 50, 75
  Firm 1 - high 100, 75 75, 50 0, 0
 
  What is the outcome of the game if both firms use maximin strategies?
  A) Both firms choose low output levels.
  B) Both firms choose medium output levels.
  C) There is no clear outcome under a maximin strategy for both firms.
  D) There are two possible maximin outcomes --- Firm 1 chooses medium and Firm 2 chooses low, or Firm 1 chooses low and Firm 2 chooses medium.

Question 2

The conviction that the poor are shunning job vacancies is lessening over time.
 
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

canderson530

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

A

Answer to Question 2

F




jayhills49

  • Member
  • Posts: 559
Reply 2 on: Jul 1, 2018
:D TYSM


ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

For a complete list of videos, visit our video library