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

Author Question: In game theory analysis, what is a dominant strategy? What will be an ideal ... (Read 63 times)

JGIBBSON

  • Hero Member
  • *****
  • Posts: 538
on: Jul 1, 2018
In game theory analysis, what is a dominant strategy?
 
  What will be an ideal response?

Question 2

Why does a monopsonist's marginal expenditure curve lie above the labor supply curve?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Fayaz00962

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jul 1, 2018
Answer to Question 1

A strategy that would be the best one for a player in a non-cooperative game no matter what strategies are adopted by the other players in the game.

Answer to Question 2

To hire additional labor, the monopsonist must increase the wage paid to all units of labor. Thus the marginal expenditure of the next unit of labor is the higher wage plus the wage increase paid to all previously hired labor.


JGIBBSON

  • Member
  • Posts: 538
Reply 2 on: Jul 1, 2018
Excellent

AISCAMPING

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Evolutionary Analysis (5th Edition) Evolutionary Analysis (5th Edition)
Activation Synthesis Theory of Dreams Activation Synthesis Theory of Dreams
Four common staining procedures used in chromosomal analysis. Most karyotypes are prepared using G-b Four common staining procedures used in chromosomal analysis. Most karyotypes are prepared using G-b
Microarray analysis for analyzing gene-expression patterns in a tissue Microarray analysis for analyzing gene-expression patterns in a tissue
Table - Correlation Analysis Table - Correlation Analysis
GENETIC ANALYSIS 15.1 (2 of 5) GENETIC ANALYSIS 15.1 (2 of 5)
Video: Ultrasound of a Fetus (Sonogram)

For a complete list of videos, visit our video library