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

Quizplus · Accepted Answer

In a non-cooperative game, each player acts independently to maximize their own payoff without considering the other player's actions. When both players have a dominant strategy, they will both follow those strategies, which may not necessarily lead to joint profits being maximized. This is because dominant strategies do not necessarily result in the best possible outcome for both players.

Which of the Following Statements Is TRUE About a Non-Cooperative