Which of the following statements about Nash Equilibria in a two-player one-shot simultaneous game is FALSE?O If one player has a dominant strategy, a Nash Equilibrium is guaranteed.O If both players have a dominant strategy, a Nash Equilibrium is guaranteed.O A Nash Equilibrium is conditional on at least one player having a dominant strategy.O It is possible for a game in pure strategies to not have a Nash Equilibrium.It is possible for a two-person game to have more than two Nash Equilibria.

Taking each statement one by one..

Which of the following statements about Nash Equilibria in a two-player one-shot simultaneous game is FALSE? O If one player has a dominant strategy, a Nash Equilibrium is guaranteed. O If both players have a dominant strategy, a Nash Equilibrium is guaranteed. A Nash Equilibrium is conditional on at least one player having a dominant strategy. It is possible for a game in pure strategies to not have a Nash Equilibrium. O It is possible for a two-person game to have more than two Nash Equilibria.

Which of the following statements about Nash Equilibria in a two-player one-shot simultaneous game is FALSE? O If one player has a dominant strategy, a Nash Equilibrium is guaranteed. O If both players have a dominant strategy, a Nash Equilibrium is guaranteed. A Nash Equilibrium is conditional on at least one player having a dominant strategy. It is possible for a game in pure strategies to not have a Nash Equilibrium. O It is possible for a two-person game to have more than two Nash Equilibria.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter8: Game Theory

Section: Chapter Questions

Problem 8.2P

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