What is a Nash equilibrium?
A)A state where each player is doing the best it can,given the strategies of all other players
B)A state where the sum of all payoffs is maximized
C)A state where the players always have achieved their best possible result
D)A state at which the MR=MC for a firm
E)A state where each player always must play a dominant strategy

Question

Quizplus · Accepted Answer

Nash equilibrium is a state in a game where each player is doing the best it can, given the strategies of all other players. It is a point in a game where no player wants to unilaterally change their strategy, as they cannot improve their payoff by doing so. It is a stable state where all players are satisfied with their outcomes.

What Is a Nash Equilibrium