A player's best response is:
A. a strategy that provides him with a minimum payoff, assuming that other players behave in a specified way.
B. a strategy that provides him with the highest possible payoff, assuming that other players behave in a specified way.
C. a strategy that provides him with some payoff defined by a probability.
D. None of these is correct.
B. a strategy that provides him with the highest possible payoff, assuming that other players behave in a specified way.
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U.S. import spending is not affected by U.S. real income but is influenced by the economic activity of its major trading partners and the exchange rate, hence import spending is taken as autonomous
Indicate whether the statement is true or false
Which type of financing requires the largest minimum size of the borrower?
A) mezzanine funds B) public debt C) venture capital funds D) public equity