Author Question: If there is a combination of strategies in which each player's action is the best response to the ... (Read 28 times)

faduma · **on:** Jun 30, 2018

If there is a combination of strategies in which each player's action is the best response to the actions of other players, then there is
A) a Boyes equilibrium.
B) an unstable equilibrium.
C) a complementary equilibrium.
D) a Nash equilibrium.

Question 2

For an individual's supply curve of labor to be upward sloping:
a. the substitution effect must be greater than the income effect.
b. the substitution effect must be equal to the income effect.
c. the substitution effect must be less than the income effect.
d. is an impossibility.