The Table Given Below Represents the Payoff Matrix of Firms

question 45

Multiple Choice

The table given below represents the payoff matrix of firms A and B,when they choose to produce either high output or low output.In each cell,the figure on the left indicates Firm B's payoffs and the figure on the right indicates Firm A's payoffs.

If X = 15 and Y = 10,then the information in Table 14-3 implies that the game has:

• A)a Nash equilibrium and a dominant strategy equilibrium.
• B)a Nash equilibrium but not a dominant-strategy equilibrium.
• C)no Nash equilibrium but has a dominant-strategy equilibrium.
• D)neither a Nash equilibrium nor a dominant-strategy equilibrium.

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Definitions:

Cerebellar Volume

The total space occupied by the cerebellum, a region of the brain that plays an important role in motor control.

Remember Series

A method or strategy designed to enhance memory retention.

Right Ear

Refers to the auditory processing predominantly associated with the right ear, which is often linked to an advantage in understanding speech and other sounds.

Left Ear

The ear located on the left side of the head, which plays a role in hearing and balance.