In a game, a dominated strategy is one where:
a. It is always the best strategy
b. It is always the worst strategy
c. It is the strategy that is the best among the group of worst possible strategies.
d. Is sometimes the best and sometimes the worst strategy
a
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Successive monopolies can earn larger profits by operating independently rather than working together or cooperating
Indicate whether the statement is true or false
(Consider This) A value-added tax (VAT):
A. is another name for a retail sales tax but is otherwise the same. B. is like a sales tax but is only imposed on the difference between a firm's sales and its purchases from other firms. C. is like an income tax but is only imposed on the difference between a person's income and his or her consumption. D. only applies to imported goods.