When Both Firms Have Dominant Strategies

question 1

Multiple Choice

When both firms have dominant strategies

• A)the outcome is called a dominant strategy solution.
• B)joint profits are maximized.
• C)there are multiple Nash equilibria.
• D)there is a prisoners' dilemma.

---

Definitions:

Epigenetic

Refers to the study of changes in organisms caused by modification of gene expression rather than alteration of the genetic code itself.

Biological Parents

The individuals from whom a person inherits their genetic traits, typically referred to as the mother and father.

Adoptive Parents

are individuals who become the legal parents of a child through the process of adoption.

Outgoingness

A personality trait characterizing individuals who are friendly, sociable, and willing to engage in social interactions.