In a non-cooperative,imperfect information,simultaneous-choice,one-period game,a Nash equilibrium
A) will never exist.
B) will always include dominant strategies.
C) will always result in both players taking the same action.
D) may not maximize the sum of the firms' profits.

Question

Quizplus · Accepted Answer

In a non-cooperative, imperfect information, simultaneous-choice, one-period game, there may not be a dominant strategy for either player, which means a Nash equilibrium may not include dominant strategies. Additionally, since the players have imperfect information, they may not know what the other player's action will be, which can lead to both players taking different actions and no clear best response. Therefore, a Nash equilibrium may not maximize the sum of the firms' profits.

In a Non-Cooperative,imperfect Information,simultaneous-Choice,one-Period Game,a Nash Equilibrium