In Game Theory, a Dominant Strategy Is One in Which

question 23

Multiple Choice

In game theory, a dominant strategy is one in which:

• A) A player's strategy leads to a bad outcome.
• B) A player's strategy is determined by the strategy of the other player.
• C) A player's strategy is mixed.
• D) A player's strategy is independent of the choice made by his/her opponent.

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Definitions:

Consumers

Individuals or groups that purchase goods and services for personal use.

Pencil Sharpeners

Devices used to sharpen pencils by shaving away their worn surfaces.

Total Surplus

The combined benefit to all parties involved in a transaction, equal to the sum of consumer and producer surplus.