A Nash equilibrium occurs if ________
A) each player chooses strategies that are mutual best responses
B) each player chooses his or her dominant strategy
C) each player chooses only a pure strategy
D) each player chooses only a mixed strategy
A
Economics
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Which of the following is included in the study of macroeconomics?
a. Wage rate of college students. b. Prices of automobiles. c. Unemployment in the nation. d. Price of silver and gold.
Economics
Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L = 5, Q = 125) and (L = 6, Q = 152). Then the marginal product of the 6th worker is
a. 25 units of output. b. 27 units of output. c. 37 units of output. d. 162 units of output.
Economics