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 113 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
YES! Correct, THANKS for helping me on my review

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Adrian Piper, My Calling (Card) #1 (for Dinners and Cocktail Parties). Adrian Piper, My Calling (Card) #1 (for Dinners and Cocktail Parties).
Exekias (Potter And Painter) AJAX AND ACHILLES PLAYING A GAME Exekias (Potter And Painter) AJAX AND ACHILLES PLAYING A GAME
What is the value of the equilibrium constant, K, at 25°C for the reaction? What is the value of the equilibrium constant, K, at 25°C for the reaction?
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Write the acidic equilibrium equation for HC₆H₅O. Write the acidic equilibrium equation for HC₆H₅O.
Video: Brain Anatomy Animation (Part 2 of 2)

For a complete list of videos, visit our video library