This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Consider the following output-choice game for two firms: Firm 2 - low Firm 2 - medium Firm 2 - ... (Read 99 times)

jayhills49

  • Hero Member
  • *****
  • Posts: 559
on: Jul 1, 2018
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
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

F


jayhills49

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

nathang24

  • Member
  • Posts: 314
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

The Grants and natural selection of beak size among the medium ground finch. The Grants and natural selection of beak size among the medium ground finch.
The Redhead (Aythya americana) is a medium-sized diving duck The Redhead (Aythya americana) is a medium-sized diving duck
When the exhaust is lean, the output of a zirconia oxygen sensor is below 450 mV. When the exhaust is lean, the output of a zirconia oxygen sensor is below 450 mV.
Circular movement of ice over lateral area just distal to the elbow. Use medium pressure to apply ... Circular movement of ice over lateral area just distal to the elbow. Use medium pressure to apply ...
Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ... Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ...
Firm handshake Firm handshake
Video: Introduction to Sickle Cell Anemia

For a complete list of videos, visit our video library