In game theory, the strategy that results in the highest payoff to a player regardless of what the other player decides to do is called the:Group of answer choicesStackleberg equilibrium.equilibrium strategy.min-max strategy.dominant strategy

In a dominant strategy equilibrium: Group of answer choices The players adopt strategies that maximise the joint payoffs to all players in the game Each player adopts a strategy that maximises the payoffs to all of the other players in the game Players adopt strategies that minimise the payoffs of their rivals Every player plays their dominant strategy None of the above

If each player in a game has a strictly dominant strategy, then:Group of answer choicesthe Nash equilibrium is welfare-maximising.each player achieves a maximum payoff in equilibrium.the game has no equilibrium.there cannot be multiple equilibria.the game can only played once.

For a player in a game, a dominant strategy isGroup of answer choicesAll of the other answers are correctthe strategy that maximises the joint payoff of players in the game.When all players adopt the same strategywhen a player adopts the same strategy, regardless as to the strategies of any other players in the gameNone of the other answers are correct

In a Nash equilibriumGroup of answer choicesOne player only plays their best response to their rivals’ strategiesAll players play their best responses to their rivals’ strategiesEvery player always plays their dominant strategySurplus is always maximisedNone of the above

With a dominant strategyGroup of answer choicesA player receives a higher payoff than they would receive if the adopt an alternative strategy, regardless as to the action of their rival (the other player).A player minimises the payoff of its rival or rivals.None of the other answers are correct.A player does well, but could do better, provided the other chose the more 'cooperative' strategyA player always receives the highest possible payoff available in the game consider all of the payoffs available under any combination of player actions.