Multiple Choice
The table given below represents the payoff matrix of firms A and B,when they choose to produce low or high output.In each cell,the figure on the left indicates Firm B's payoffs and the figure on the right indicates Firm A's payoffs.
The information in Table 14-2 implies that the game has:
A) a Nash equilibrium and a dominant-strategy equilibrium.
B) a Nash equilibrium but not a dominant-strategy equilibrium.
C) no Nash equilibrium but has a dominant-strategy equilibrium.
D) neither a Nash equilibrium nor a dominant-strategy equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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