Game theory is necessary to understand which kinds of markets? (i) perfectly competitive (ii) monopolistically competitive (iii) oligopoly (iv) duopoly (v) monopoly
a. (i) and (ii) only
b. (iii), (iv), and (v) only
c. (iii) and (iv) only
d. (i), (ii), (iii), (iv), and (v)
c
Economics
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Two goods are said to be complements when a fall in the price of one good:
A) leads to a fall in price of the other good. B) doesn't affect the demand for the other good. C) leads to a left shift in the demand for the other good. D) leads to a right shift in the demand for the other good.
Economics
The demand curve for a normal good shifts leftward if income ________ or the expected future price ________
A) decreases; falls B) decreases; rises C) increases; falls D) increases; rises
Economics