Economics 151 - Microeconomics (topic 5)

In the Prisoners' Dilemma game, the strategy the cooperative strategy:

a)Will be selected by one player at least 50% of the time.

b)Is not a Nash Equilibrium.

c)Is an equilibrium, but not a Nash Equilibrium.

d)Is a Nash Equilibrium.

e)Will always be selected by at least one player.

b)Is not a Nash Equilibrium.

A Dominant Strategy is the strategy that is

a)Always chosen by a player, regardless of the strategy played by the other player.

b)Never a strategy played in a Nash Equilibrium.

c)The one that makes the player worse off, regardless of the strategy chosen by the other player.

d)Never chosen by a player, regardless of the strategy played by the other player.

e)Frequently chosen by a player, regardless of the strategy played by the other player.

a)Always chosen by a player, regardless of the strategy played by the other player.