Which of the following is not a characteristic of an assurance game?
A) Neither player has a dominant strategy.
B) Nash equilibria exist at every outcome where the players successfully coordinate.
C) Each of the Nash equilibria offers identical payoffs to any particular player.
D) The payoff for coordinating is higher than the payoff for not coordinating.
C
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Which characteristic would best be associated with pure competition?
A. Few sellers B. Price takers C. Nonprice competition D. Product differentiation
Refer to the information provided in Table 20.4 below to answer the question(s) that follow. Table 20.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60 Refer to Table 20.4. Germany has
A. an absolute advantage in wine production. B. an absolute advantage in beer production. C. a comparative advantage in beer production. D. all of the above.