Which of the following is TRUE?
A) APC + MPS = 1
B) MPC + MPS = 1
C) 1 + APC = APS
D) APC - APS = 1
B
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Which of the following is true? a. A Nash equilibrium maximizes a player's welfare, regardless of the behavior of a competitor while a dominant strategy maximizes a player's welfare, given the actions of its competitor. b. A Nash equilibrium maximizes a player's welfare, given the actions of its competitor, while a dominant strategy maximizes a player's welfare, regardless of the behavior of
its competitor. c. A Nash equilibrium is just another name for a dominant strategy. d. A Nash equilibrium may or may not be a self-enforcing equilibrium.
If marginal cost is greater than average total cost, average total cost:
A. is falling. B. is rising. C. will not change. D. is minimized.