A Nash Equilibrium Is

question 1

Multiple Choice

A Nash equilibrium is:

• A)When there is no unilateral profitable deviation for any player.
• B)The strategy adopted by every player is optimal given the strategies adopted by every other player.
• C)When all player's adopt their best response to the strategies of all other players in the game.
• D)Players adopt strategies so that the total payoff to all players is maximized.
• E)a, b, and C

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Definitions:

Artesian Well

A well tapping a confined aquifer, where the water pressure is sufficient to bring the water to the surface without pumping.

Water Table

The level below which the ground is completely saturated with water, marking the boundary between the unsaturated soil and the groundwater.

Water Table

The upper surface of the saturated zone in the ground where the soil or rocks are permanently wet, marking the boundary between surface water and groundwater.

Topography

The arrangement of the natural and artificial physical features of an area.