Answer to Question 1
A consumer's consumption possibilities are limited by the consumer's income and the prices of the goods. The consumer is unable to consume limitless quantities of goods and services because the consumer must pay a price for each good or service consumed and the consumer's income is limited. If the consumer's income increases and/or the prices of the goods and services fall, the quantity of goods and services the consumer can afford increases, thereby increasing the consumer's consumption possibilities.
Answer to Question 2
A player's best response is not the same as his dominant strategy. A best response is simply one player's optimal choice, taking the other player's action as given. In other words, a best response gives a player a payoff that is at least as large as the payoff from any other strategy she has available. However, when a player has the same best response to every possible strategy of the other player(s), then we say that the player has a dominant strategy.
Mark Twain supplemented his income as a writer by giving humorous lectures.
The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling
How Health Interacts with Income
Effect of an Exogenous Shift in Income
Social scientists have not done well at devising theories to explain lovely romantic moments
Lone-parent household income and the degree of vulnerability