Games

question 46

Multiple Choice

Games:

• A) only have one possible stable outcome.
• B) may have noncooperative equilibriums that are positive-positive outcomes.
• C) must have a dominant strategy present in order to reach an equilibrium.
• D) None of these statements is true.

---

Definitions:

Maximum Profit Equilibrium

The point at which a firm achieves its highest level of profit given its production and cost constraints.

Price Labor

The cost associated with hiring workers or the wage that employers pay to their employees for their labor.

ATMs

Automated Teller Machines, devices that allow bank customers to perform financial transactions without the need for a branch representative.

Bank Tellers

Employees of a bank who deal directly with customers, handling transactions, cash checks, accept deposits, and provide account information.