A Table That Shows the Possible Payoffs Each Firm Earns

question 30

Multiple Choice

A table that shows the possible payoffs each firm earns from every combination of strategies by all firms is called

• A)an earnings table.
• B)a payoff table.
• C)a payoff matrix.
• D)a strategic matrix.

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Definitions:

Graph

A diagram showing the relation between variable quantities, typically of two variables measured along a pair of lines at right angles.

Reactants

Materials that exist before a chemical reaction starts and are used up to create end products during the reaction.

Hydrogen Ion Acceptor

A hydrogen ion acceptor, often a base in chemical terms, is a compound that is capable of accepting a hydrogen ion (H+) from another compound, thus participating in neutralization or buffer reactions.

FAD

Flavin adenine dinucleotide, a redox-active coenzyme associated with various proteins and involved in several important enzymatic reactions in metabolism.