In a static game, firms
A) compete multiple times until there is a winner.
B) compete only once.
C) must have complete information.
D) act sequentially.
Correct Answer:
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Q1: In game theory, a strategy
A)is useless, because
Q2: Rock-paper-scissors (Roshambo)is an example of a _
Q3: A payoff matrix
A)shows the payoffs (i.e. bribes)required
Q6: Common knowledge in game theory
A)is information known
Q7: One interesting feature of a prisoner's dilemma
Q8: Firms in an oligopolistic market _ because
Q9: Dominant strategies
A)are always present in simultaneous games.
B)result
Q10: A game includes
A)a strategy.
B)payoffs.
C)rules.
D)All of the above.
Q11: The term prisoners' dilemma refers to a
Q31: A Nash equilibrium occurs when
A) players choose
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