What is a situation called in which economic actors.interacting with one another,each choose their best strategy,given the strategies the others have chosen
A)a cartel
B)an open market solution
C)a socially optimal solution
D)a Nash equilibrium

Question

Quizplus · Accepted Answer

This situation is called a Nash equilibrium, named after John Nash who developed the concept. In a Nash equilibrium, no player has an incentive to unilaterally deviate from their chosen strategy, given the strategies chosen by the other players. It is considered the most stable outcome in game theory.

What Is a Situation Called in Which Economic Actors