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Author Question: A player's best response is A) the strategy that maximizes his payoff given what he thinks the ... (Read 69 times)

wenmo

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on: Jul 1, 2018
A player's best response is
 
  A) the strategy that maximizes his payoff given what he thinks the other player will do.
  B) a dominant strategy.
  C) impossible to find when there isn't a Nash equilibrium.
  D) a way to avoid the prisoners' dilemma.

Question 2

In the long run if there is a shortage in the market for a product, the guiding (allocation) function of price can be expected to cause
 
  A) an increasing shift in the demand for the product.
  B) a decreasing shift in the demand for the product.
  C) an increasing shift in the supply of the product.
  D) a decreasing shift in the supply of the product.


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Ddddd

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


wenmo

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Reply 2 on: Jul 1, 2018
Excellent

covalentbond

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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