The Nash equilibrium isA) a pair of strategies,one for each player ,in which player A's strategy is the best response while player B's is notB) a pair of strategies,one for each player ,in which player B's strategy is the best response while player A's is notC) a pair of strategies,one for each player,in which each player's strategy is the best response to the other'sD) a pair of strategies,one for each player,in which neither strategy is a best response

Question

​The Nash equilibrium isA) ​a pair of strategies,one for each player ,in which player A's strategy is the best response while player B's is notB) a pair of strategies,one for each player ,in which player B's strategy is the best response while player A's is notC) a pair of strategies,one for each player,in which each player's strategy is the best response to the other'sD) ​a pair of strategies,one for each player,in which neither strategy is a best response

Ashley Enríquez · Accepted Answer

Final Answer : C, Explanation :  The definition of Nash equilibrium is that it is a pair of strategies, one for each player, in which each player's strategy is the best response to the other's. Therefore, option C is the correct choice. Option A describes a dominated strategy, option B describes the reverse situation, and option D describes a non-equilibrium outcome.

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