In a non-cooperative, imperfect information, simultaneous-choice, one-period game, a Nash equilibrium
A) will never exist.
B) will always include dominant strategies.
C) will always result in both players taking the same action.
D) may not maximize the sum of the firms' profits.
D
Economics
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Dead capital is most likely to exist when
A) there are restrictions on imports. B) residents of a country face barriers to establishing legal ownership of resources. C) property rights are well-defined. D) there are restrictions on exports.
Economics
During the last decade, the price of a computer fell every year and the quantity sold increased every year. This experience suggests that the
A) "law of demand" was definitely contradicted. B) "law of supply" was definitely contradicted. C) demand curve shifted rightward. D) supply curve shifted rightward.
Economics