A Nash equilibrium is defined as
A) earning zero economic profit in the long run.
B) forming a cartel with strong penalties for cheaters.
C) relying on other game players to realize the benefit of cooperation.
D) each player taking the best possible action given the action of the other player.
E) each player taking the action that is best for all the players.
D
Economics
You might also like to view...
Firms in monopolistic competition can make an economic profit in the long run
Indicate whether the statement is true or false
Economics
Explain what happens to the world real interest rate if the government of Panama runs a large government budget deficit
What will be an ideal response?
Economics