# Microeconomics

posted by .

I am on the chapter for Oligopoly in my economic book.

I have the following question:

Define Nash equilibrium. What is the Nash equilbrium for trade policy?

I can define the Nash equilbrium. The Nash equilibrium is a situation in which economic actors interacting with one another each choose their best strategy given the stategies that all the other actors have chosen.

I am not clear on the second part of the question. What is the Nash Equilbrium for trade? The book does not state a Nash equilibrium for trade polocy.

Since in trade there would be many actors. I am not sure how to answer this part to the question?

• Microeconomics -

The Nash equilibrium is that the best strategy for trade has been chosen given all the other countries have adopted a trade policy.

• you -

six

## Similar Questions

1. ### managerial economics

Problem One5 Consider the following simultaneous moves game in normal form: Player Two t1 t2 Player One r1 -2,4 0,-2 r2 -4,5 0,1 (a)State the set of Nash equilibrium strategies. (b)State the payoffs to each player in the Nash equilibrium.
2. ### Microeconomics

I am on the chapter for Oligopoly in my economic book. I have the following question: Define Nash equilibrium. What is the Nash equilbrium for trade policy?
3. ### MACROeconomics - Game Theory

I donâ€™t get anything from below except for (c). Please help me! Thanks. Consider the following game matrix: ....................................................Player B............ ............................................Left............Right....... …
4. ### game theory

Consider the following game. Player 2 L R U 6, 1 ........8, 3 Player 1 UM 4, 9........8, 4 DM 7, 2 ............6, 9 D 5, 4...........9, 3 (a) Is there a mixed strategy Nash equilibrium in which player 1 is placing positive probability …

Suppose that there is a common resource of size y in a two period society. Each of two citizens, one and two, can withdraw a nonnegative amount c1 or c2 for consumption in period one, provided that c1+c2 <=y . In the event that …
6. ### Statistics

The basketball player Steve Nash is the all-time career free throw shooter among active players. He makes about 90% of his free throws. In today's game, Nash misses his first two free throws. The TV commentator says, "Nash's technique …
7. ### ms. sue

ms. sue for my essay teacher say i have to give example when i say for movie a beautiful mind when john start interacting with delusions, this effects his job and relationships. what example i put here?
8. ### microeconomics

. Suppose that two players are playing the following game. Player 1 can choose either Top or Bottom, and Player 2 can choose either Left or Right. The payoffs are given in the following table: Player 2 Player 1 Left Right Top 9 4 2 …
9. ### Economics

According to the following game tree, and if the entrant and incumbent both only care about their own monetary payoff, what is/are the game's Nash equilibrium?
10. ### history!!!!

what page (number) does 'The Works of Mr. Nash appear on in the newspaper?

More Similar Questions