A Dominant Strategy Is

question 58

Multiple Choice

A dominant strategy is:

• A) when one strategy is chosen by a firm first and determines the best strategies of the other players that follow.
• B) when one strategy is chosen and cannot be changed without making at least one of the players worse off.
• C) when one strategy is always the best for a player to choose, regardless of what other players do.
• D) None of these statements is true.

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Definitions:

Independently Owned

Refers to a business or entity that is owned by an individual or private group, not controlled by any larger company or conglomerate.

Manufacturing Sector

The segment of the economy concerned with the production of goods through the processing of raw materials and components into finished products.

Small Businesses

Refers to privately owned corporations, partnerships, or sole proprietorships that have fewer employees and lower annual revenue than a regular-sized business or corporation.