According to the information provided, as long as production levels are less than the Nash equilibrium, both Irun and Urun have the individual incentive to:
A)all of the below are possible
B)decrease production
C)increase production
D)hold production levels constant

Question

Quizplus · Accepted Answer

In a Nash equilibrium, each player's strategy is optimal given the strategies of all other players. If production levels are below this equilibrium, both Irun and Urun have an incentive to increase production to move towards their optimal strategy, where neither can benefit by changing their own strategy while the other's strategy remains unchanged.

According to the Information Provided, as Long as Production Levels