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 99 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
Great answer, keep it coming :)

ecabral0

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Gangrene of the toes and foot as a result of an infection often means eventual amputation. Gangrene of the toes and foot as a result of an infection often means eventual amputation.
Kinesthesis and Equilibrium with skating Kinesthesis and Equilibrium with skating
In the drawing of acetaldehyde, CH3CHO, the largest partial negative charge (-) occurs on In the drawing of acetaldehyde, CH3CHO, the largest partial negative charge (-) occurs on
What will be the pH of the solution once equilibrium is established? What will be the pH of the solution once equilibrium is established?
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
The Hardy–Weinberg Equilibrium The Hardy–Weinberg Equilibrium
Video: Cataract

For a complete list of videos, visit our video library