5 Match the definition to each term listed below.NumberDefinition1A table that shows the payoffs each firm earns from every combination of firm strategies2An agreement among firms to charge the same price or otherwise not to compete3An option that is better than any alternative option regardless of what the other firm doesAn outcome of a strategic game from which neither rival wants to deviate45A game outcome in which players seek to increase their mutual payoff60A practice where one firm initiates a price change and the other firms follow the leader7A game in which the firms choose their strategies at the same time8One firm's gain must equal the other firm's loss9A game in which the sum of the two firms' outcomes is positive10Firms select their optimal strategies in a single time period without regard to possible interactions insubsequent time periods11A game that occurs more than onceInstructions: Enter a numeric response corresponding to the number of the definition listed above.a. A repeated game:b. Cooperative equilibrium: [c. Simultaneous game:d. Payoff matrix:e. Nash equilibrium:

e that shows the payoffs each firm earns from every combination of firm strategies eement among firms to charge the same price or otherwise not to compete ion that is better than any alternative option regardless of what the other firm d come of a strategic game from which neither rival wants to deviate outcome in which players seek to increase their mutual payoff tice where one firm initiates a price change and the other firms follow the leader in which the firms choose their strategies at the same time arm's gain must equal the other firm's loss in which the sum of the two firms' outcomes is positive select their optimal strategies in a single time period without regard to possible quent time periods that occurs more than once a numeric response corresponding to the number of the definition listed above. librium: me:

e that shows the payoffs each firm earns from every combination of firm strategies eement among firms to charge the same price or otherwise not to compete ion that is better than any alternative option regardless of what the other firm d come of a strategic game from which neither rival wants to deviate outcome in which players seek to increase their mutual payoff tice where one firm initiates a price change and the other firms follow the leader in which the firms choose their strategies at the same time arm's gain must equal the other firm's loss in which the sum of the two firms' outcomes is positive select their optimal strategies in a single time period without regard to possible quent time periods that occurs more than once a numeric response corresponding to the number of the definition listed above. librium: me:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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