A Nash equilibrium will always provide both players with their highest payoffs possible
Indicate whether the statement is true or false
False. The prisoners' dilemma, for example, has an equilibrium that is strictly worse for both players than another possible outcome ("don't confess" for both).
Economics
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One of the reasons that price elasticities of demand are always stated as positive numbers is because
a. the numerators and denominators of the formula are both negative b. the numerators and denominators of the formula are both positive c. price increases always lead to increases in quantity demanded d. price decreases always lead to decreases in quantity demanded e. price elasticities are always negative, so we ignore the sign
Economics
"Economic rent reflects a waste of resources." Do you agree or disagree? Explain
What will be an ideal response?
Economics