-Bonus Pre-Test Assignme x / @ Take a Test-Aashraya M xeeChegg Study l Guided S.

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-Bonus Pre-Test Assignme x / @ Take a Test-Aashraya M xeeChegg Study l Guided S. × Kaustubh kalyan igaikw c × C Secure https://www.mathxl.com/Student/Player lestasp history d-96093 1 1/3201 //82&testid;=1/3201//g ccng econ xly62fsl Econ 1B03 Evening Section Aashraya Mehta Quiz: Bonus Pre-Test #3 Submit Quiz This Question: 1 pt 9 of 17 This Quiz: 20 pts possible A Nash equilibrium is defined as 0 A. The optimal outcome that results because firms form legally binding cartel agreements O B. The optimal outcome that results when firms choose the best strategy without taking into account the strategies other firms have chosen C. The sub-optimal outcome that results when firms choose the best strategy given the strategies other firms have chosen 0 D. The sub-optimal outcome that results due to the free entry and exit nature of the oligopoly market structure Click to select vour answer O Type here to search ENG 2017-11-28

Explanation / Answer

Ans is C

Nash equilibrium can be suboptimal outcome because in nash equilibrium each player choose the best strategy given the strategy of other player. Thus no player wants to deviate given the other player strategy

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