This topic contains a solution. Click here to go to the answer

Author Question: Which of the following statements is TRUE about a non-cooperative game? A) When two players each ... (Read 188 times)

madam-professor

  • Hero Member
  • *****
  • Posts: 584
Which of the following statements is TRUE about a non-cooperative game?
 
  A) When two players each have a dominant strategy, joint profits may not be maximized.
  B) When two players each have a dominant strategy, joint profits are maximized.
  C) When players use their best responses, joint profits are maximized.
  D) None of the above.

Question 2

Suppose that each worker must use only one shovel to dig a trench, and shovels are useless by themselves. In the long run, an increase in the price of shovels will result in
 
  A) fewer shovels being purchased to produce the same number of trenches.
  B) more workers being hired to produce the same number of trenches.
  C) the firm wishing to produce more trenches.
  D) no change in the firm's input mix.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chereeb

  • Sr. Member
  • ****
  • Posts: 326
Answer to Question 1

A

Answer to Question 2

D




madam-professor

  • Member
  • Posts: 584
Reply 2 on: Jul 1, 2018
Wow, this really help


pangili4

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

For a complete list of videos, visit our video library