Multiple Choice
For the following question
Consider a simultaneous move game between a union and a company.If both the parties bargain hard,each would gain nothing.If only one party bargains hard the accommodating party gets a profit of $1 million while the bargaining party gets a $5 million,while if they both accommodate,they each get $3 million.
-What would be the Nash equilibrium of this game?
A) Bargain hard,bargain hard
B) Firm bargains hard,union accommodates
C) Union bargains hard,firm accommodates
D) Both B&C
Correct Answer:
Verified
Correct Answer:
Verified
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