Question

As economic conditions worsen during the pandemic, Maria is concerned that if she loses her job,...

  1. As economic conditions worsen during the pandemic, Maria is concerned that if she loses her job, finding another job will be almost impossible. What is likely to happen to Maria’s best response function and her level of effort at work?
    1. Her best response function will shift down and her effort level will decrease.
    2. Her best response function will shift down and her effort level will increase.
    3. Her best response function will shift up and her effort level will decrease.
    4. Her best response function will shift up and her effort level will increase.
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Answer #2

Answer: d) Her best response function will shift up and her effert level will increase.

Explanation:

Since Maria fears losing her job during pandemic, she realizes that finding another job is almost impossible. In this scenario, Maria is most likely to perform her best in order to secure her job.

In the game theory, the best response stretegy of a player is the one that produces the most favourable outome. In the given situation, the desired outcome is to secure a job, therefore Maria's best response function will shift up and her effert level will increase.

answered by: anonymous
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