Game theory is applicable to oligopoly behavior because oligopolists
A) use strategic behavior.
B) ignore rival firms.
C) are price takers.
D) can only be profitable if they collude.
A
Economics
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Limit pricing in a contestable market sets the price at the highest level that ________
A) maximizes the profit of an entrant B) maximizes the profit of the existing firm C) maximizes the profit of both the existing firm and the entering firm D) inflicts a loss on an entrant
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Americans spend more on goods produced in China than Chinese citizens spend on goods produced in the United States
a. True b. False
Economics