Author Question: In a game, which strategic choice is called a dominant strategy?[br][br][b][color=red]Question ... (Read 38 times)

futuristic · **on:** Jun 30, 2018

In a game, which strategic choice is called a dominant strategy?

Question 2

Monopolistic competitors and perfect competitors are alike in:
a. facing horizontal demand curves.
b. earning zero economic profit in the short run.
c. earning zero economic profit in the long run.
d. relying on advertising to attract buyers to their products.

Hikerman221 · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

The dominant strategy of each player in a game is his/her best choice irrespective of what his/her co-player has chosen.

Answer to Question 2

c