This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A Nash equilibrium occurs when both parties to a game end up worse off as a result of the decisions ... (Read 109 times)

sammy

  • Hero Member
  • *****
  • Posts: 818
on: Jun 29, 2018
A Nash equilibrium occurs when both parties to a game end up worse off as a result of the decisions that are made. Is the previous definition of a Nash equilibrium correct or incorrect?
 
  What will be an ideal response?

Question 2

The price of one good changes and Sue is now at a point on her indifference curve where the marginal rate of substitution exceeds the relative price. Sue will now choose to buy ________ of the good that is measured on the ________.
 
  A) more; x-axis
  B) more; y-axis
  C) the same quantity; x-axis
  D) less; x-axis


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

matt95

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

The definition is incorrect. A Nash equilibrium is an equilibrium in which each player takes the best possible action given the action of the other player.

Answer to Question 2

A


sammy

  • Member
  • Posts: 818
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

kalskdjl1212

  • Member
  • Posts: 353
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

A mound of buffalo skulls. In 1870 an estimated 30 million buffalo roamed the plains; by 1900 there A mound of buffalo skulls. In 1870 an estimated 30 million buffalo roamed the plains; by 1900 there
A deficiency of linoleic acid can interfere with normal growth and result in inflammation A deficiency of linoleic acid can interfere with normal growth and result in inflammation
Inflamed skin (dermatitis) can result from pellagra Inflamed skin (dermatitis) can result from pellagra
Cretinism can result in a child born to a mother who was iodine deficient during early pregnancy Cretinism can result in a child born to a mother who was iodine deficient during early pregnancy
Postreplication repair occurs if DNA replication Postreplication repair occurs if DNA replication
Flail Chest Occurs When Three or More Adjacent Ribs Fracture in Two or More Places Flail Chest Occurs When Three or More Adjacent Ribs Fracture in Two or More Places
Video: Introduction to Diabetes

For a complete list of videos, visit our video library