A Nash equilibrium occurs when
A) each firm is doing the best it can given its opponents' actions.
B) each firm chooses the strategy that maximizes its minimum gain.
C) a player can choose a strategy that is optimal regardless of its rivals' actions.
D) there is no dominant firm in a market.
A
Economics
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The figure above shows the market for pants. If 6 million pairs of pants are produced, the deadweight loss is
A) zero. B) the triangle ABE. C) the triangle BCE. D) the triangle ACE. E) the triangle BCE minus the triangle ABE.
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