If only one player in a game has a dominant strategy, there can be no Nash equilibrium

Economic growth due to labor force expansion or capital investments will result in

I. A leftward shift of short-run aggregate supply. II. A rightward shift in long-run aggregate supply. A) I only B) II only C) Both I and II D) Neither I nor II

The above payoff matrix shows the economic profits (in millions of dollars) of two firms in a duopoly that have agreed to a cartel agreement to restrict their output and set their prices equal to the monopoly price

Assuming the game is played once, the equilibrium outcome is where A) both choose the monopoly price. B) both choose the competitive price. C) firm A chooses the monopoly price and firm B chooses the competitive price. D) firm B chooses the monopoly price and firm A chooses the competitive price.