Eng_managem 3 - 1 Regarding the Nash Equilibrium which one...

Info icon This preview shows pages 1–3. Sign up to view the full content.

1. Regarding the Nash Equilibrium which one of the following statements is a true statement? a. There can be only one equilibrium point in any single game. b. By definition, if there is a Nash Equilibrium point then this point is always the dominant strategy. c. A game can result in there being no dominant strategy. d. A dominant strategy will only occur in a zero-sum game. 2. A simple legally binding contract comprises: a. An offer and an acceptance. b. An offer and an acceptance with signatures under seal. c. An offer, an acceptance and a consideration. d. An offer, an acceptance, a consideration and legal terms and conditions agreed by the courts. 3. Civil law has two main elements: the law of contract and the law of tort . The law of tort: a. Seeks to regulate the agreed, formal relationship between people. b. Covers financial rules relating to payment and debt. c. Is concerned with conditions of employment. d. Imposes a duty of care not to infringe the rights of people, even those with whom we do not have a formal relationship. 4. Which of the following is not true regarding English Law: 5. Which of the following statements best describes a ‘consideration’?
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

6. For a contract to be valid certain criteria must be met. Which of the following is not a valid criterion?
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern