Which Game Does the Cournot Model Most Resemble and Why

question 24

Multiple Choice

Which game does the Cournot model most resemble and why?

• A)the Battle of the Sexes because firms need to coordinate their outputs.
• B)the Battle of the Sexes because firms disagree on which outcome is best.
• C)the Prisoners Dilemma because firms don't maximize joint payoffs in equilibrium.
• D)the Prisoners Dilemma because firms play dominant strategies.

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Definitions:

Aversive Event

An unpleasant or undesirable event that causes a negative reaction in an individual, often used in psychology to study behaviors and conditioning.

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A living entity that can function independently, including animals, plants, fungi, microorganisms, and in some contexts, viruses.

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A form of learning in which an undesirable behavior decreases in frequency because it is followed by an unpleasant stimulus.

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The act of striking the buttocks of another person to cause physical pain, typically used as a form of punishment.