Nash equilibrium is:
a. where one player maximizes his payoff and the other doesn't
b. when each player's strategy is the best response to the other player's strategy
c. where the outcome is always efficient
d. difficult to determine
b
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The firm's fixed cost refers to costs that
a. do not change as the price of a good changes b. do not change as the firm's output changes c. can never be changed d. can only be changed in the short run e. do not change when the scale of the operation changes
Exhibit 36-1 Bond FaceValueof Bond Price ofthe Bond Annual CouponPayment A $1,000 $850 $25 B $1,000 $950 $41 C $1,000 $1,100 $52 D $1,000 $1,100 $32 E $1,000 $1,000 $50 Refer to Exhibit 36-1. For which bond is the yield and the coupon rate the same?
A. Bond A B. Bond B C. Bond C D. Bond D E. Bond E