Reaching a Nash equilibrium means that:
A. the outcome will be positive-positive.
B. a cooperative equilibrium has been reached.
C. the players have reached a stable outcome where neither would wish to change his strategy once he finds out what the other player is doing.
D. the players have failed to reach a stable outcome because one player will always wish to change his strategy once he finds out what the other player is doing.
C. the players have reached a stable outcome where neither would wish to change his strategy once he finds out what the other player is doing.
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If the price of gasoline rises sharply and the demand for sports utility vehicles falls, then the two goods are
A) complements. B) normal goods. C) substitutes. D) inferior goods.