Author Question: In the game in Scenario 13.10, there is A) a mixed strategy equilibrium, and no other. B) a ... (Read 75 times)

FButt · **on:** Jul 1, 2018

In the game in Scenario 13.10, there is

A) a mixed strategy equilibrium, and no other.
B) a mixed strategy and a pure strategy equilibrium.
C) a mixed strategy and two pure strategy equilibria.
D) a mixed strategy and four pure strategy equilibrium.
E) no equilibrium in either mixed or pure strategies.

Question 2

A firm never operates

A) at the minimum of its ATC curve.
B) at the minimum of its AVC curve.
C) on the downward-sloping portion of its ATC curve.
D) on the downward-sloping portion of its AVC curve.
E) on its long-run marginal cost curve.