A Credible Commitment Is

question 2

Multiple Choice

A credible commitment is

• A)always irreversible.
• B)a way of becoming the first-mover in sequential decision situation.
• C)an unconditional strategic move.
• D)both a and c
• E)all of the above

---

Definitions:

Income

The money received by individuals or entities, typically in exchange for providing labor, selling goods, or making investments.

Substitute Goods

Products or services that can replace or be used in place of one another, having the ability to satisfy similar consumer needs or desires.

Iced Tea

A chilled beverage made by cooling brewed tea and typically served with ice, sometimes sweetened or flavored.

Complementary Goods

Products or services that are typically consumed together, such that demand for one increases demand for the other.