A Nash equilibrium exists if each player's choice of action is their best response to every other player's strategy. In the case of two players, this means that Player 1's choice of action is his best response to Player 2's choice and ...
The book presents a vigorous treatment of all relevant introductory microeconomic concepts. The book also emphasizes on modern economics — game theory and imperfect markets.
With the emphasis on strategy, this text is also well suited for use in business economics courses.
Essentials of Microeconomics
Essentials of Microeconomics is an excellent introduction to microeconomics, with a vigorous treatment of all relevant introductory microeconomic concepts.
The extensive content of this book provides the readers with a thorough understanding of microeconomics and its fundamental elements. It is an essential guide for both academicians and those who wish to pursue this discipline further.
Essentials of Microeconomics: Exercises