1. Which of the following statements is true about “Nash Equilibrium” in a 2-player game?
Given the other players’ strategies, no player can improve her welfare by unilaterally changing her strategy.
There is always a unique (only one) Nash Equilibrium in real world problems.
Nash equilibrium always results in the socially optimal outcome.
The joint payoffs of the two players are always highest compared to other strategy pairs.
2. Marketing refers to__________.
A) ?the process of identifying target market segments for a product or service
?B) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large
?C) the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers
D) ?the production of products or services that will generate the highest return on investment