When oligopolistic firms interacting with one another each choose their best strategy given the strategies chosen by other firms in the market, we have
a. a cartel.
b. a group of oligopolists behaving as a monopoly.
c. a Nash equilibrium.
d. the perfectly competitive outcome.
c
Economics
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Early developers within a given industry benefit from economies of scale, in that they are able to
a. produce larger volumes at a lower cost. b. shape the product based on what the consumer wants. c. avoid competition by creating a monopoly. d. start big instead of having to start small.
Economics
When a third string NFL quarterback earns more than a police officer, society answers the ________ question
A) for whom B) what C) how D) why E) social interest vs. self-interest
Economics