In a mixed-strategy Nash equilibrium, a player is willing to randomize because:
a. this confuses opponents.
b. he or she is indifferent between the actions in equilibrium.
c. the actions provide the same payoffs regardless of what the other player does.
d. he or she does not know what the other player is doing.
b
Economics
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A checking account balance in a commercial bank is
A) part of the currency supply. B) a time deposit. C) not liquid enough to be considered money. D) an asset readily usable for most transactions.
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If production creates a negative externality, social welfare can be increased through
a. antitrust law b. subsidization c. taxation d. free market policies e. allocative efficiency
Economics