Author Question: If each player in a game uses a strategy that results in a Nash equilibrium outcome, the players are ... (Read 215 times)

newbem · **on:** Jul 1, 2018

If each player in a game uses a strategy that results in a Nash equilibrium outcome, the players are most likely to say

A) I don't like my choice, because I think I could have done better.
B) Given the strategies chosen by the other players in the game, I probably could have done better if I had more time.
C) Given the strategies chosen by the other players in the game, I made the best possible choice.
D) There was no real strategy on my part, I basically made an educated guess.

Question 2

If demand is given by Q = Ap-b where A and b are positive constants, the absolute value of price elasticity of demand

A) = b.
B) = A.
C) = A/b.
D) depends on the price.