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 94 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 :)

steff9894

  • Member
  • Posts: 337
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

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.

Guttation, the result of root pressure. Guttation, the result of root pressure.
Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu
Write a net ionic equation for the precipitation reaction that occurs. Write a net ionic equation for the precipitation reaction that occurs.
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
If nondisjunction (the improper separation of chromosomes) occurs during meiosis, the eggs or sperm If nondisjunction (the improper separation of chromosomes) occurs during meiosis, the eggs or sperm
Video: Stimulus (introduction)

For a complete list of videos, visit our video library