Expected utility is a weighted average in which the weights are

The characteristic of games whereby the outcome of the game depends not only on what you do but on what the other players do in response is called

A) strategic interaction. B) mutual interdependence. C) optimal choice analysis. D) decision theory.

Under which one of the following market structures are sellers most likely to consider the reaction of rival sellers when they set the price of their product?

a. oligopoly b. perfect competition c. pure monopoly d. monopolistic competition