All of the following statements are true except:
A)In a Nash game, each player will have a dominant strategy.
B)A Cournot equilibrium is an example of a Nash equilibrium.
C)A Bertrand equilibrium is an example of a Nash equilibrium.
D)A game can be both Nash and Cournot at the same time.

Question

Quizplus · Accepted Answer

In a Nash game, players may not necessarily have a dominant strategy. A dominant strategy is a strategy that remains the best choice for a player regardless of the strategies chosen by other players. In a Nash equilibrium, each player's strategy is the best response to the strategies chosen by the other players. In a Nash game, each player may not have a dominant strategy.

All of the Following Statements Are True Except