One way for firms to analyze their choices in an oligopoly is by using:
A. game theory.
B. cost minimization theory.
C. marginal revenue maximization strategy.
D. None of these is an effective method for oligopolists.
A. game theory.
You might also like to view...
Some economists believe that the Asian crisis in 1997
A) could have been avoided if stronger action had been taken by major countries and international agencies. B) was inevitable since most of the economies were experiencing slow economic growth. C) was made worse by the refusal of the IMF to take any actions. D) was necessary to rid those economies of inflation.
If firms execute a strategy that triggers a permanent punishment, the result in an indefinitely repeated game is
A) undefined. B) the non-cooperative Nash equilibrium. C) the collusive Nash equilibrium. D) economically inefficient.