In game theory, if two rivals in an oligopoly can avoid a large loss by cutting price from $40 to $35,
a. neither will cut its price
b. one will charge $40 and the other will charge $35
c. their actions will depend on their respective strategies
d. each will cut price but not all the way to $35
e. they will collude to do what's best for both of them
C
Economics
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Which of the following can tax cuts influence?
a. aggregate demand and aggregate supply b. aggregate demand but not aggregate supply c. aggregate supply but not aggregate demand d. neither aggregate demand nor aggregate supply
Economics
Competition is more likely to exist when:
A. there is free entry into and exit out of industries. B. products are produced by a few large firms. C. there is a single supplier of all goods and services. D. the government purchases most goods and services.
Economics