How does it differ from a dominant strategy

Reference no: EM131301062

1. Economists use the ultimatum game to test judgments of fairness. What result does economic theory predict?

2. How is game theory relevant to oligopoly? Does it help to explain monopoly? Give reasons for your response.

3. What is a Nash equilibrium? How does it differ from a dominant strategy?

Reference no: EM131301062

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