The dominant-strategy solution implies that each firm
a. ignores the reactions of competitors
b. colludes with competitors to maximize industry profits
c. ignores the decisions of the other firms
d. takes all potential bits of information into consideration before making a decision
e. selects the optimal solution to a game
C
Economics
You might also like to view...
Tiffany gives $50 to Jeremy for his birthday. This is an example of a(n)
A) involuntary transfer. B) involuntary-voluntary transfer. C) voluntary transfer. D) gift. E) c and d
Economics
If wages rise by 12 percent at the same time prices rise by 3 percent, then the increase in real wages is equal to
A. 12 percent. B. 9 percent. C. 6 percent. D. 3 percent.
Economics