Which of the following is true of a Nash equilibrium?
A) A game can have only one Nash equilibrium.
B) No player can improve his payoff by changing his strategy once in Nash equilibrium.
C) A Nash equilibrium cannot occur if each player is aware of the strategies of other players.
D) A Nash equilibrium occurs if each player earns a zero payoff irrespective of the strategy he chooses.
Question 2
Which of the following occurs when an economic activity has a spillover benefit on third parties not engaged in the activity?
A) An economic profit
B) A positive externality
C) A gain in producer surplus
D) A gain in consumer surplus
True Friendship
A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
Write equilibrium constant expressions for the following reactions in terms of concentration:
The Hardy–Weinberg equilibrium for autosomal genes
One generation of random mating produces Hardy–Weinberg equilibrium