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Author Question: When an oligopolist chooses a maximin strategy, how is that helpful and what is being assumed about ... (Read 118 times)

newbem

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on: Jun 29, 2018
When an oligopolist chooses a maximin strategy, how is that helpful and what is being assumed about the other players?
 
  What will be an ideal response?

Question 2

Refer to Figure 4-3. What is the total amount that Kendra is willing to pay for 1 ice cream cone?
 
  A) 0.50 B) 3.50 C) 9.00 D) 13.50


potomatos

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A player chooses a maximin strategy to maximize the minimum gain it can earn. It assumes that the opposition will play the strategy that will be the most harmful to one's own payoff potential.

Answer to Question 2

B


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