In economic theory, equilibrium in dominant strategies occurs when

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    every firm has a dominant strategy, and the outcome for each firm depends upon their rival firms implementing their dominant strategy.
     one firm has a dominant strategy that the others must follow, and so only one set of payoffs is possible.
     every firm has a dominant strategy, and the outcome for each firm is the best regardless of what rival firms are doing.
     one firm has a dominant strategy that the others must follow, and the outcome for each firm is the best possible given the dominant firms position..
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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every firm has a dominant strategy, and the outcome for each firm is the best regardless of what rival firms are doing.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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