Many Concepts Are Difficult to Describe in Words, but We

question 139

Multiple Choice

Many concepts are difficult to describe in words, but we often can define them using typical and familiar members of a particular class called:

• A) propositions
• B) prototypes
• C) phonemes
• D) morphemes

---

Definitions:

Equilibrium Strategies

The optimal plans of action for players in a game, where each player's strategy is the best response to the strategies of others.

Rebates

A partial refund to someone who has paid too much for tax, rent, or a utility, or a marketing strategy offering a discount on an initial purchase back after the fact.

Firms

Business organizations or entities that produce goods or provide services, ranging in size from single proprietorships to large corporations.

Cooperative Games

Cooperative games are strategic games where players can form binding agreements to cooperate and share the payoffs.