When a player in a game adopts a strategy which always yields the highest benefit regardless of what the other player does, that player is using a(n)
A. dominant strategy.
B. aggressive strategy.
C. opportunistic strategy.
D. tit-for-tat strategy.
Answer: A
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Consider the following situation. Tuition at State University is $10,000 per year. Each of the students listed below paid their own tuition bills. Who among them incurred the greatest sunk cost?
A) The student who received a two-year associate's degree B) The student who took five years to complete the bachelor's degree C) The student who took ten years to complete the bachelor's, master's, and Ph.D. degrees D) The student who dropped out during their first semester E) The student who dropped out after their third year
The LookGood BePopular (LGBP) Clothing Company embarked on a new advertising campaign in which a group of young beautiful people are having fun eating out at a restaurant wearing the company's clothes. Critics of advertising argue that this advertisement
a. causes demand for LGBP Clothing to be less elastic. b. is more effective than other forms of advertisement because of its content. c. will cause the market to be more competitive. d. Both a and b are correct.