A Nash equilibrium is A. reached when an oligopoly's market demand and supply intersect. B. reached when each player choose the best strategy for himself and for the group. C. an equilibrium comprising nonminus-dominant strategies only. D. reached when each player chooses the best strate

Question

Jazmine Kennedy

Business

14 October, 09:01

A Nash equilibrium is A. reached when an oligopoly's market demand and supply intersect. B. reached when each player choose the best strategy for himself and for the group. C. an equilibrium comprising nonminus-dominant strategies only. D. reached when each player chooses the best strate

+1

Answers (1)

Know the Answer?

Choi · Answer 1

B. reached when each player choose the best strategy for himself and for the group.

Explanation:

Nash equilibrium -

It is the type of method for a game, where there is no incentives or perks involved in the game, so that the people do not divert from the main focus, is referred to as nash equilibrium.

This type of game is a type of fair competition, so that each and every person can show their actual potential, without being bias.

Hence, from the given statements the correct statement for nash equilibrium is b.