Which of the Following Statements Is Incorrect

question 29

Multiple Choice

Which of the following statements is incorrect?

• A)A Nash equilibrium is a situation in which each player chooses their best strategy given the strategies chosen by the other players in the game.
• B)A Cournot equilibrium is an example of a Nash equilibrium.
• C)A Bertrand equilibrium is an example of a Nash equilibrium.
• D)A Nash equilibrium maximizes the aggregate payoffs of the players of the game.

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Definitions:

Cognitive Model

A theory in psychology that emphasizes the importance of internal thoughts and perceptions in determining behavior.

Abnormal Behavior

Patterns of emotion, thought, and action deemed pathological for one or more reasons, including discomfort, dysfunction, distress, or deviation from the norm.

Conscious Mental Processes

Thoughts, perceptions, and feelings of which an individual is aware at any given moment.

Biological Model

A perspective in psychology and medicine that attributes psychological disorders and behaviors to biological factors, such as genetic inheritance, brain chemistry, and anatomy.