In games without dominant strategies the Nash equilibrium can be found by using:
a. the cooperation vs. grim trigger strategy.
b. the chain-store paradox.
c. the principle of backward induction.
d. the method of iterated elimination of dominated strategies.
D
Economics
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Draw a demand and supply curve for a competitive product, making sure to clearly label the axis. Give a brief explanation for why the resulting equilibrium is economically efficient
What will be an ideal response?
Economics
If the Consumer Price Index (CPI) increases from 100 to 200 and the nominal wage increases from $100 to $400, what is the change in the real wage in terms of the beginning year's dollars?
a. +$200 b. +$400 c. +$100 d. +$300 e. -$200
Economics